US warned Nippon Steel its U.S. Steel bid risks harming American industry

5 September 2024, 12:00 am

1 min read

An entrance to the U.S. Steel Great Lakes Works plant is seen in Ecorse, Michigan, U.S., September 24, 2019. Picture taken September 24, 2019. REUTERS/Rebecca Cook

Reuters exclusively reported that the Biden administration told Nippon Steel its $14.9 billion acquisition of U.S. Steel would pose a national security risk by harming the American steel industry, adding to evidence the U.S. is poised to block it.