Joe Biden supported review of the deal between Nippon Steel and US Steel – Kommersant
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US President Joe Biden considers it necessary to conduct a review of the purchase of American US Steel by its Japanese competitor Nippon Steel, as such a deal could threaten national security. About this yesterday, December 21, stated head of the National Economic Council, Leil Brainard.
She said Mr. Biden believes that “the purchase of this iconic American company by a foreign entity—even one from an ally—deserves careful scrutiny for its potential impact on national security and supply chain reliability.” Ms. Brainard also noted that this is the type of transaction that should be reviewed by the US Foreign Investment Commission, created just for such cases.
The fact that Nippon Steel is buying US Steel for $14.9 billion was announced on Monday. According to experts, this deal is beneficial for the American company, which has recently been going through difficult times and has already begun to look for a buyer.
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