{"id":2336735,"date":"2024-09-04T15:48:01","date_gmt":"2024-09-04T19:48:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-reportedly-to-block-us-steel-sale-washington-examiner\/"},"modified":"2024-09-04T15:50:04","modified_gmt":"2024-09-04T19:50:04","slug":"biden-administration-reportedly-to-block-us-steel-sale-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-administration-reportedly-to-block-us-steel-sale-washington-examiner\/","title":{"rendered":"Biden administration reportedly to block US Steel sale &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-administration-reportedly-to-block-us-steel-sale-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2336735&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Biden administration is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-anti-israel-activist-heading-to-biden-state-dept\/\" title=\"Report:\u00a0Anti-Israel Activist Heading to Biden State Dept\">reportedly set<\/a> to block the $14.9 billion\u200d acquisition of U.S. Steel by Japan&#8217;s Nippon \u2062Steel. This decision is expected to have significant labor implications and could strain U.S.-Japan relations, as Japan is a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/psaki-evades-question-of-kremlins-payments-to-hunter-biden\/\" title=\"Psaki evades question of Kremlin\u2019s payments to Hunter Biden\">key ally<\/a> of the United States. The move comes despite CEO David Burritt&#8217;s warnings that the acquisition&#8217;s failure could\u200b lead to\u200d the closure of \u200dsteel\u2063 mills and job relocations \u200bby\u2062 U.S. Steel. Following the announcement, U.S. Steel&#8217;s stock \u200cwitnessed a sharp decline, falling \u2064as much as 25%. This situation \u200dhighlights the complexities surrounding cross-border mergers and the\u200c impact of governmental\u200b decisions on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-family-business-dealings-raise-ethical-questions\/\" title=\"Biden family business dealings raise ethical questions\">international business relations<\/a>.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Biden administration reportedly to block US Steel sale<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1744931\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/biden-administration\/\" target=\"_blank\" rel=\"noopener\" title>Biden administration<\/a> is <a href=\"https:\/\/www.washingtonpost.com\/business\/2024\/09\/04\/biden-prepares-reject-us-steel-deal\/\" target=\"_blank\" rel=\"noopener\" title>reportedly<\/a> planning to block<a href=\"https:\/\/www.washingtonexaminer.com\/tag\/steel\/\" target=\"_blank\" rel=\"noopener\" title> Nippon Steel&rsquo;s<\/a> $14.9 billion acquisition of U.S. Steel.<\/p>\n<div class=\"article-paywall\">\n<p>Shareholders of U.S. Steel approved the sale to the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/japan\/\" target=\"_blank\" rel=\"noopener\" title>Japanese<\/a>-owned company this spring, garnering fierce criticism from former President Donald Trump, Vice President Kamala Harris, and President Joe Biden.<\/p>\n<p>U.S. Steel CEO David Burritt said that if the deal were to fall through, the company would shut down its last steel mill in Pittsburgh and have to move its headquarters south.<\/p>\n<p>The Committee on Foreign Investment in the United States is investigating the acquisition, and it has yet to give a recommendation to the president.<\/p>\n<p>The U.S. Chamber of Commerce is concerned that Biden&rsquo;s move to block the acquisition could have a &ldquo;chilling&rdquo; impact on other foreign companies seeking investments in the U.S.<\/p>\n<p>In addition, Japan is an ally of the U.S., and officials are worried about how it will affect the U.S. relationship with Japan.<\/p>\n<p><a href=\"http:\/\/washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong><\/strong><\/a><\/p>\n<p>Nippon Steel officials said the company was attracted to make a bid for U.S. Steel because of the Biden administration&rsquo;s industrial policies.<\/p>\n<p>With reports that the Biden administration is seeking to block the deal, U.S. Steel&rsquo;s stock price has fallen more than 22%.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1744931\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1744931\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration is reportedly set to prevent Nippon Steel from acquiring U.S. Steel for $14.9 billion. This spring, U.S. Steel shareholders approved the sale, which has faced strong opposition from former President Donald Trump, Vice President Kamala Harris, and President Joe Biden himself. U.S. Steel&#8217;s CEO David Burritt warned that if the deal collapses, the company would have to close its last steel mill in Pittsburgh and relocate its headquarters further south. The Committee on Foreign Investment in the United States is currently reviewing the acquisition but has not yet provided a recommendation to the president. The U.S. Chamber of Commerce has expressed concerns that blocking this deal could deter other foreign investments in America. Additionally, there are worries about how this decision might impact relations with Japan, a key ally of the U.S., especially since Nippon Steel was drawn to bid for U.S. Steel due to the Biden administration&#8217;s industrial policies. Following news of potential blockage by the administration, shares of U.S. Steel have dropped over 22%<\/p>\n","protected":false},"author":2542,"featured_media":2336736,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/04\/AP19163502770211-1024x619.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[32502,40104,34402,40105,39699],"class_list":["post-2336735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-biden-administration","tag-corporate-news","tag-economic-policy","tag-government-regulation","tag-us-steel"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/04\/AP19163502770211-1024x619.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2336735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2542"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2336735"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2336735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2336736"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2336735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2336735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2336735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}