US President Joe Biden Blocks $14.9 Billion Steel Sale to Nippon Steel

• President Biden blocks controversial $14.9 billion sale of U.S. Steel to Japan’s Nippon Steel.

• Biden cites strategic need to protect domestic industry and national security.

• Decision follows political wrangling over domestic political, economic, and trade demands.

• Biden aims to rebuild U.S. manufacturing base and maintain U.S.-Japan relations.

• Rare bipartisan agreement on the issue, with President-elect Donald Trump and incoming Vice-President J.D. Vance also campaigning against the sale.