President Joe Biden has blocked the acquisition of US Steel by Japan’s Nippon Steel, citing national security risks and fulfilling a political commitment. The decision, influenced by labor union opposition, raises concerns about foreign investment in the US. Nippon Steel plans to take legal action in response to the ruling, emphasizing dissatisfaction from both companies and Japanese officials. The case highlights tensions in US-Japan economic relations and underscores the significance of the domestic steel industry as essential for national security.

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