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US President Joe Biden speaks to members of the media on the South Lawn of the White House after arriving on Marine One in Washington, DC, US, on Monday, Sept. 2, 2024.

Ting Shen/Pool/Sipa USA

Report: Biden set to reject US Steel deal

The Washington Post reported Wednesday that President Joe Biden intends to block Nippon Steel’s proposed acquisition of US Steel, which had become a potential political sticking point in the November election. Both Vice President Kamala Harris and her opponent Donald Trump have also expressed opposition to the deal, which has been under investigation by the Committee on Foreign Investment in the United States. If the committee finds the deal could represent a national security threat, the president then has the authority to block it.
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