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The Guardian - US

World

Callum Jones in New York and agencies

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

Joe Biden US Steel Nippon Steel United States Donald Trump National Security CFIUS

A man walks past an advertisement for Japanese steel producer Nippon Steel in central Tokyo — A man walks past an advertisement for Japanese steel producer Nippon Steel in central Tokyo. Photograph: Richard A Brooks/AFP/Getty Images

Joe Biden has blocked a $14.9bn bid by Japan’s Nippon Steel for US Steel, citing concerns the deal could hurt national security and following through on a pledge to keep the steelmaker domestically owned as he prepares to depart the White House.

The two companies said they would take all “appropriate action to protect their legal rights”, with Nippon Steel reportedly preparing to sue the US government.

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