News
2025
U/A 16+
President Biden blocked the $14 billion takeover of U.S. Steel by Nippon Steel of Japan in an announcement on Friday based on grounds that the sale posed a threat to national security.The decision was an extraordinary use of executive power, particularly for a president who is just weeks from leaving office. It is also a departure from America’s long-established culture of open investment, one that could have wide-ranging implications for the U.S. economy. Although the politics of the move were clear, Mr. Biden emphasized that he was acting to protect national security.Show more