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International Business Times
International Business Times
Business
Danny KEMP

Biden Opposes Nippon Steel Takeover Of US Steel

US Steel Joe Biden Nippon Nippon Steel United States Donald Trump Japan White House
US President Joe Biden speaks during a campaign event in Milwaukee, Wisconsin (Credit: AFP)

President Joe Biden said Thursday he is against the proposed sale of US Steel to Japan's Nippon Steel, as election year considerations appeared to outweigh the risk of angering key ally Japan.

Biden's intervention in the planned $14.1 billion acquisition comes less than a month before he hosts Japan's Prime Minister Fumio Kishida for a state visit to the White House aimed at boosting ties and countering China.

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