Biden-Harris administration reportedly might delay blocking sale of U.S. Steel to Japan's Nippon

The sale has become an election issue because blocking it might cause more domestic job losses than foreign ownership.

Published: September 13, 2024 2:26pm

Updated: September 13, 2024 3:14pm

White House officials have purportedly delayed their decision about whether to block the takeover of U.S. Steel by Japan's Nippon Steel, according to a news report Friday.

The possible policy change was first reported by The Washington Post.

The administration at first appeared to take the position of a foreign takeover of domestic steel was not good for the U.S., but supporters of the deal have reportedly said nixing it will result in Americans losing jobs.

The Committee on Foreign Investment in the United States, Nippon and U.S. Steel all declined to comment. The White House did not immediately respond to a Reuters request for comment.

Nippon Steel and U.S. Steel sent a letter Sunday to President Biden about the merger after media reports that he was preparing to block the deal, a spokesperson for the Japanese steelmaker told Reuters.

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