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Al Jazeera
Al Jazeera
Business

Biden to block Nippon Steel’s takeover of US Steel, reports say

US Steel Nippon Steel Joe Biden United States Donald Trump Pittsburgh United Steelworkers
A United Steelworkers sign is seen outside the Great Lakes Works United States Steel plant in River Rouge, Michigan, the United States, on September 16, 2024 [Rebecca Cook/Reuters]

United States President Joe Biden has decided to block the proposed takeover of US Steel by Japan’s Nippon Steel, US media has reported.

Biden is expected to announce his decision to scuttle the $14.9bn sale on national security grounds as early as Friday, The New York Times, The Washington Post and Bloomberg reported, citing people familiar with the matter.

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