The Biden administration is considering rejecting Nippon Steel's acquisition of U.S. Steel on CFIUS grounds. Concerns arise over the impact on U.S. Steel, with calls for the bid to proceed despite potential job losses at Cleveland-Cliffs Butler Works steel plant.
The Biden administration’s rejection of Nippon Steel’s bid for U.S. Steel underscore the incoherence of the administration’s industrial policy, the Editorial Board writes. https://t.co/otf8RW055H
If President Biden were concerned about the vitality of US Steel, as well as the US steel industry and the US economy more broadly, he’d quietly let Nippon Steel’s bid to acquire the company proceed. https://t.co/gnd481yMuw #CatoTrade https://t.co/LqDYTbgvqY
1,300 jobs at Cleveland-Cliffs Butler Works steel plant are at risk due to a Dept. of Energy rule. Now, we are inviting @ENERGY Secretary Jennifer Granholm to explain her department's decision to the Butler community. More coverage from @WPXI ⬇ https://t.co/Sy8VSm1XJ2
Ohio-based Cleveland Cliffs dominates the electrical steel market. Sadly, the Biden Admin is actively working ban American uniform-grain electrical steel in favor of European and Chinese amorphous steel. It shouldn’t take legislation to stop this madness, nevertheless HR7171-> https://t.co/kwaBGPNeDq
All of this, and Biden is going to reject Nippon’s acquisition of U.S. Steel $X on CFIUS grounds? I continue to think they will figure out a way to get the deal done. https://t.co/1bxvYqDjEN