Biden blocks US Steel sale to Japan's Nippon Steel

"This acquisition would place one of America's largest steel producers under foreign control and create risk for our national security and our critical supply chains," Biden said in a statement.

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An employee enters the human resources and educational building for Japanese company Nippon Steel during a media tour at their East Nippon Works Kashima Area facility in Kashima, Ibaraki prefecture, north of Tokyo on December 6, 2024. (AFP)