{"id":2385886,"date":"2025-01-03T04:50:02","date_gmt":"2025-01-03T09:50:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-officially-block-purchase-of-us-steel-by-japanese-company-washington-examiner\/"},"modified":"2025-01-03T04:51:19","modified_gmt":"2025-01-03T09:51:19","slug":"biden-to-officially-block-purchase-of-us-steel-by-japanese-company-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-to-officially-block-purchase-of-us-steel-by-japanese-company-washington-examiner\/","title":{"rendered":"Biden to officially block purchase of US Steel by Japanese company &#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\">28<\/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-to-officially-block-purchase-of-us-steel-by-japanese-company-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=2385886&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>President Joe Biden is set to block the \u200cacquisition of U.S. Steel by Japan&#8217;s Nippon Steel, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/poll-even-zoomers-want-tiktok-banned\/\" title=\"Poll: Even Zoomers Want TikTok Banned\">citing national security concerns<\/a>. This decision is anticipated to \u200dbe officially announced\u200c soon,possibly by Friday. Nippon Steel had proposed a \u200b$14.9 billion \u200bdeal\u200b to purchase the American company. President\u2062 Joe Biden is preparing to block Japan&#8217;s\u2064 Nippon steel from acquiring U.S. Steel due to national security concerns, with an official announcement\u2062 expected soon, likely by Friday. The proposed \u200ddeal, valued at\u200c $14.9 billion, has raised alarms about potential\u2063 implications for the U.S. steel\u2062 industry and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chris-christie-hammers-biden-for-unfreezing-6-billion-for-iran-in-exchange-for-prisoners-never-ends\/\" title=\"Chris Christie slams Biden for releasing B to Iran for prisoners, says it&#039;s a never-ending cycle.\">national \u200bsecurity\u2063 interests<\/a>. This decision reflects ongoing scrutiny by the Biden governance regarding foreign investments in critical sectors.  <\/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 to officially block purchase of US Steel by Japanese company<\/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_1927173\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-biden\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Joe Biden<\/a> will reportedly officially block the purchase of U.S. Steel by Japan&rsquo;s Nippon <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/steel\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Steel<\/a> due to concerns that the purchase could threaten national security. The president&rsquo;s decision is expected to be announced as early as Friday.&nbsp;The Japanese corporation had offered to <a href=\"https:\/\/www.washingtonexaminer.com\/op-eds\/3175818\/nippon-deal-test-america-free-market-credibility\/\" target=\"_blank\" rel=\"noreferrer noopener\">acquire the company for $14.9 billion<\/a>.<\/p>\n<div class=\"article-paywall\">\n<p>Biden&rsquo;s decision to block the deal stems from the findings of a Dec. 23 report from the Committee on Foreign Investment in the United States, the <em>Washington Post <\/em>reported. In its assessment, CFIUS <a href=\"https:\/\/www.washingtonpost.com\/business\/2025\/01\/02\/biden-blocks-nippon-us-steel-deal\/\" target=\"_blank\" rel=\"noreferrer noopener\">concluded<\/a> that the purchase could potentially reduce national steel productivity, causing &ldquo;risks to the national security of the United States.&rdquo;&nbsp;The president has been a staunch opponent of the deal since it was announced.<\/p>\n<p>&ldquo;Potential reduced output by U.S. Steel could lead to supply shortages and delays that could affect industries critical to national security,&rdquo; the panel, which Treasury Secretary Janet L. Yellen chaired, concluded in its analysis of the proposed sale. The transportation and energy sectors would be the most vulnerable in such a scenario, according to the report.&nbsp;<\/p>\n<p>CFIUS also suggested that given Nippon Steel&rsquo;s international operations, approving its purchase of U.S. steel could jeopardize future U.S. government trade decisions to minimize costs associated with steel imports, according to the <em>Post<\/em>. In turn, this could incentivize <a href=\"https:\/\/www.washingtonexaminer.com\/opinion\/beltway-confidential\/3160183\/dont-be-afraid-nippon-steel\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Nippon Steel<\/a> to prioritize steel production abroad, leaving the country&rsquo;s economy &ldquo;more exposed to dumping and unfair subsidization of steel.&rdquo; Furthermore, CFIUS panelists were unconvinced the company could reduce such potential vulnerabilities with a <a href=\"https:\/\/www.washingtonpost.com\/business\/2025\/01\/02\/biden-blocks-nippon-us-steel-deal\/\" target=\"_blank\" rel=\"noreferrer noopener\">plan<\/a> to fill key operational and employment positions with employees from the U.S.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/strong><\/p>\n<p>After meticulous research, the committee could not unanimously decide on the risks associated with Nippon Steel&rsquo;s proposed purchase. As a result of the stalemate, the decision on whether or not to ultimately proceed with the sale fell back to Biden, according to the <em>Washington Post<\/em>.<\/p>\n<p>The attempted acquisition of the former titan of steel production in the country was initially announced on Dec. 18, 2023. The proposed purchase was met with controversy over, among other things, concerns that it would result in a loss of U.S. jobs as the headquarters of U.S. Steel is located in Pittsburgh, Pennsylvania, and Nippon Steel is based in Japan. Additionally, objections to the sale stemmed from geopolitical concerns over a foreign country owning the American company, which could <a href=\"https:\/\/amzn.to\/3YuVZYV\">conceivably affect national steel production<\/a>.&nbsp;<\/p>\n<p>Nippon&rsquo;s proposed acquisition of U.S. steel has drawn criticism and opposition from many politicians, including Sen. John Fetterman (D-PA), President Joe Biden, and <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/infrastructure\/3248626\/trump-says-will-block-japanese-acquisition-nippon-steel\/\" target=\"_blank\" rel=\"noopener\" title=\"\">President-elect Donald Trump<\/a>.<\/p>\n<\/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_1927173\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1927173\"}});<\/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>Biden to block Nippon Steel&#8217;s purchase of U.S. Steel<\/p>\n","protected":false},"author":2677,"featured_media":2385887,"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\/07\/Nippon-USS-Deal-scaled-1024x711.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[11089,3620,34402,47808,39699],"class_list":["post-2385886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-acquisition","tag-biden","tag-economic-policy","tag-japanese-company","tag-us-steel"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/Nippon-USS-Deal-scaled-1024x711.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2385886","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\/2677"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2385886"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2385886\/revisions"}],"predecessor-version":[{"id":2385890,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2385886\/revisions\/2385890"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2385887"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2385886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2385886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2385886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}