Podcast: Biden blocks the sale of U.S. Steel, lawsuits follow

08 Jan

Podcast: Biden blocks the sale of U.S. Steel, lawsuits follow

published in category: From The TribLIVE Newsroom
Wednesday, January 8th, 2025 – 11:29 am

Citing national security concerns, President Joe Biden blocked the $15 billion international sale of U.S. Steel to Japanese company Nippon Steel on Jan. 3, 2025.

In a joint statement after the announcement U.S. Steel and Nippon Steel called Biden’s action political. The companies then filed a federal lawsuit against the administration and a U.S. competitor on Monday, Jan. 6, 2025, in hopes of salvaging the deal.

TribLive reporter Jack Troy joins digital producer Zac Gibson with details.

This is From the Newsroom.

Posted in From The TribLIVE Newsroom

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