Tag #Economic Nationalism

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elpais.com

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Jan 3, 19:10

Biden Vetoes Nippon Steel's US Steel Acquisition

President Joe Biden vetoed Nippon Steel's $14.1 billion acquisition of US Steel, citing national security concerns and potential risks to US steel production, despite overwhelming shareholder approval and Nippon Steel's promises of investment and job security.

Biden Vetoes Nippon Steel's US Steel Acquisition

President Joe Biden vetoed Nippon Steel's $14.1 billion acquisition of US Steel, citing national security concerns and potential risks to US steel production, despite overwhelming shareholder approval and Nippon Steel's promises of investment and job security.

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What is the immediate impact of President Biden's veto on the US Steel-Nippon Steel deal and US-Japan relations?

President Biden blocked the $14.1 billion acquisition of US Steel by Japan's Nippon Steel, citing national security concerns. This veto, anticipated for over a year, comes just weeks before Biden leaves office and may strain US-Japan relations. The decision follows a CFIUS review highlighting risks to national security if Nippon Steel reduced US steel production.

nbcnews.com

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Dec 3, 12:36

Trump to Block Nippon Steel's $15 Billion U.S. Steel Acquisition

President-elect Donald Trump declared he will block Nippon Steel's $15 billion bid to acquire U.S. Steel, defying the company's support and prior opposition from President Biden and Vice President Harris, despite Nippon Steel's promises to invest and maintain American jobs. The deal is set for revie...

Trump to Block Nippon Steel's $15 Billion U.S. Steel Acquisition

President-elect Donald Trump declared he will block Nippon Steel's $15 billion bid to acquire U.S. Steel, defying the company's support and prior opposition from President Biden and Vice President Harris, despite Nippon Steel's promises to invest and maintain American jobs. The deal is set for revie...

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What are the potential broader economic and geopolitical implications of this decision?

Trump's opposition stems from concerns about foreign ownership of U.S. Steel, prioritizing domestic control over economic efficiency. Nippon Steel's assurances of continued American management, investment, and job security appear insufficient to sway Trump. This politicization risks harming U.S.-Japan relations and inadvertently benefiting China, which dominates the global steel market.

Showing 25 to 26 of 26 results