President Biden is set to forge ahead and likely block Nippon Steel's $14 billion bid to acquire U.S.. Steel, citing national security concerns.
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00:00President Biden is set to forge ahead and likely block Nippon Steel's $14 billion bid
00:06to acquire U.S. Steel, citing national security concerns.
00:10The decision is influenced by the Committee on Foreign Investment in the United States,
00:15though a final recommendation has yet to be made.
00:18The move comes amid political pressure to protect American industries, especially during
00:23an election year.
00:25U.S. Steel and Nippon Steel have indicated they might take legal action if the deal is
00:30blocked, arguing it poses no security risks and would benefit the U.S. economy.