Biden announced the freeze of US Steel sale to Japanese Nippon

The US president, with his announcement, blocked the sale of United States Steel to Nippon Steel for $14.1 billion, ending a high-profile deal that caused political storm and tensions between the US and it. Joe Biden announced his official decision today (3,1205), after the case was referred to him by an American safety assessment committee, ahead of the deadline early next week. “US Steel (US ownership) will remain a proud American company—a company owned by Americans, operated by American trade union steel workers—the best in the world,” the president said in a statement on the freezing of the sale of this company to Nippon based in Japan. Companies have signaled that they may question the legal reasons for any exclusion, increasing the prospect that the issue will remain in question. Elected President Donald Trump is also committed to blocking the transaction.