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A logo of Nippon Steel is pictured in Chiyoda Ward, Tokyo on March 15, 2024. US President Joe Biden opposed planned sale of U.S. Steel to Nippon Steel, a Japanese Firm, on March 14th.

The Yomiuri Shimbun

Biden expected to block Nippon Steel deal, citing national security

President Biden is expected to block Nippon Steel's $14 billion acquisition of US Steel on national security grounds, with his decision expected as early as Friday. This expansion of executive authority could significantly impact US foreign investment practices and strain relations with Japan, a key ally and major investor in the US.

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