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White House signaling it will likely stop Nippon Steel's plans to buy US Steel
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Democratic presidential nominee Vice President Kamala Harris campaigns with President Joe Biden at the IBEW Local Union #5 union hall in Pittsburgh, on Labor Day, Monday, Sept. 2, 2024. - photo by AP Photo/Jacquelyn Martin
WASHINGTON (AP) — The White House is signaling an openness to blocking the acquisition of U.S. Steel by Nippon Steel, as a government review of the proposed takeover by the Japanese company is on the cusp of ending. The Washington Post reported Wednesday that President Joe Biden plans to stop the deal from going forward. A White House official, insisting on anonymity to discuss the matter, did not deny the report and said Biden still needs to receive the official recommendation from the Committee on Foreign Investment in the United States.