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Nippon Steel has announced its intention to acquire U.S. Steel for approximately $15 billion, a move that the Japanese firm believes is crucial for making the American company more competitive. The acquisition, which has been agreed upon for roughly $15 billion, faces significant regulatory hurdles, particularly in a U.S. election year where the White House considers steel critical to national security. President Joe Biden has expressed opposition to the deal, emphasizing the importance of keeping U.S. Steel under domestic control. Despite these challenges, Nippon Steel's new chief is committed to pushing forward with the deal, highlighting the company's 'deep roots' in the U.S. and its technological contributions, including over 2,000 patents. The acquisition is seen as a strategic move to strengthen US-Japan economic security ties and counter China's dominance in the steel-making industry.