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Biden Blocks Nippon Steel Acquisition of U.S. Steel, Citing National Security

President Biden has stopped Nippon Steel's acquisition of U.S. Steel, prompting strong reactions from labor and business groups over national security concerns.

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Nippon Steel expected to sue U.S. government over Biden block

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Biden's Block of US Steel Sale Could Benefit Trump

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Biden blocks $14B sale of U.S. Steel to Japan's Nippon Steel

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Biden Blocks $14 Billion U.S. Steel Sale to Japan, Citing National Security

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Biden blocks U.S. Steel takeover by Japan's Nippon Steel, citing national security

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Biden blocks U.S. Steel's sale to Nippon, citing national security concerns

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Joe Biden blocks Nippon Steel’s $14.9bn bid to purchase US Steel

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Biden rejects Nippon Steel's proposed deal to acquire US Steel

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Biden says he will block US Steel sale to Nippon Steel

The Hill

Biden blocks Japan's Nippon Steel from acquiring U.S. Steel

NBC News

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Biden blocks $14.1B sale of US Steel to Japanese buyer, citing national security concerns

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Washington Examiner

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CNBC

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Al Jazeera

Overview

A summary of the key points of this story verified across multiple sources.

President Biden's recent decision to block the $14.9 billion acquisition of U.S. Steel by Nippon Steel cites national security risks and has spurred significant backlash. U.S. Steel’s CEO labeled the move as 'shameful' and claimed it jeopardizes American competitiveness. Labor groups support the decision, while business organizations criticize it, fearing economic consequences for steelworkers. President-elect Trump lauds Biden’s action as a victory, aligning with labor interests. Tensions rise around the potential impact on the steel industry and U.S.-Japan relations.

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