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Biden decides to block U.S. Steel sale to Japanese buyer

Washington Post
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Biden has decided to officially block Nippon Steel’s proposed purchase of U.S. Steel , a once-iconic American company.

Biden opted to kill the deal despite intense efforts by some of his senior advisers to sway him in recent days .

A White House announcement of the presidential finding is planned as soon as Friday .

Nippon Steel promised no layoffs or plant closures during the term of the current union contract, which expires in September 2026 .

U.S. Steel’s next step is not clear; the Pittsburgh -based steelmaker could resume its search for a buyer.

Many of those who objected to the sale cited its storied history.