Senior administration officials had reservations about calling Nippon Steel’s takeover proposal a “national security risk.”

President Joe Biden officially announced on Friday he has blocked Nippon Steel's $14.1 billion purchase of U.S. Steel, setting up a likely federal court battle.

President Joe Biden on Friday announced his decision to block the $14 billion sale of U.S. Steel to Japan’s Nippon Steel, citing national security concerns. The move could have serious implications in Gary,

President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel.

The companies condemned the president's decision and hinted at taking legal action, while U.S. Steel's CEO accused Biden of "political corruption."

Shares of U.S. Steel sank Friday as President Joe Biden blocked the $14.1 billion sale of the iconic American company to Japan's Nippon Steel.

The post Blocking the U.S. Steel Sale Is a Perfectly Disgraceful End to Biden's Political Career appeared first on Reason.com.

A government panel has failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel to purchase U.S. Steel.

By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. He may be putting them at risk instead. In making its nearly $15 billion bid for the storied Pittsburgh-based steelmaker,

In blocking the sale to Nippon Steel, Biden said U.S. Steel "will remain a proud American company – one that’s American-owned and American-operated."

In a joint statement with U.S. Steel, the Japanese company accused Biden of breaking the law to serve his own political agenda just a few weeks before leaving the White House. Biden said he was protecting national security and keeping the company in American hands. Newsweek reached out to the White House via email for comment.