Current:Home > ScamsBiden administration appears to be in no rush to stop U.S. Steel takeover by Nippon Steel-Angel Dreamer Wealth Society D1 Reviews & Insights
Biden administration appears to be in no rush to stop U.S. Steel takeover by Nippon Steel
View Date:2024-12-23 22:58:34
WASHINGTON (AP) — President Joe Biden has voiced his opposition to Nippon Steel buying U.S. Steel, but the federal government appears to be in no hurry to block the deal.
White House officials earlier this month did not deny that the president would formally block the acquisition. But the necessary report from the government’s Committee on Foreign Investment in the United States has yet to be submitted to the White House.
“It’s their process — it’s independent,” White House press secretary Karine Jean-Pierre told reporters Friday. “We have to see the recommendation from CFIUS. That’s the process.”
The proposed takeover carries some heavy political weight in Pennsylvania, a state that both Vice President Kamala Harris and Donald Trump view as a must-win in November’s presidential election. U.S. Steel is headquartered in Pittsburgh.
Biden, Harris and Trump have all come out against the deal. Biden is close with the United Steelworkers, the labor union whose members work for U.S. Steel and worry about the loss of job protections. Supporters of the merger note that U.S. Steel’s older mills could be shuttered without the improved corporate balance sheet that a merger could produce.
The Washington Post initially reported on Sept. 4 that the deal would be blocked by the federal government, only to then report on Friday that any ruling on the merger would be delayed.
veryGood! (81947)
Related
- NFL Week 11 picks straight up and against spread: Will Bills hand Chiefs first loss of season?
- Sia Marries Dan Bernard During Intimate Italian Ceremony: See the Wedding Photos
- Today’s Climate: August 7-8, 2010
- Even remote corners of Africa are feeling the costly impacts of war in Ukraine
- 'I was in total shock': Woman wins $1 million after forgetting lotto ticket in her purse
- Study: Solar Power Officially Cheaper Than Nuclear in North Carolina
- Trump: America First on Fossil Fuels, Last on Climate Change
- Fossil Fuels on Federal Lands: Phase-Out Needed for Climate Goals, Study Says
- Georgia House Democrats shift toward new leaders after limited election gains
- Nobel Prize in Chemistry Honors 3 Who Enabled a ‘Fossil Fuel-Free World’ — with an Exxon Twist
Ranking
- J.Crew Outlet Quietly Drops Their Black Friday Deals - Save Up to 70% off Everything, Styles Start at $12
- Treat Mom to Kate Spade Bags, Jewelry & More With These Can't-Miss Mother's Day Deals
- Killer Proteins: The Science Of Prions
- In California, Study Finds Drilling and Fracking into Freshwater Formations
- Suspect in deadly 2023 Atlanta shooting is deemed not competent to stand trial
- Mama June Shannon Reveals She Spent $1 Million on Drugs Amid Addiction
- An art exhibit on the National Mall honors health care workers who died of COVID
- Hendra virus rarely spills from animals to us. Climate change makes it a bigger threat
Recommendation
-
Kentucky governor says investigators will determine what caused deadly Louisville factory explosion
-
Today’s Climate: August 13, 2010
-
Don't Let These 60% Off Good American Deals Sell Out Before You Can Add Them to Your Cart
-
As Amazon Fires Burn, Pope Convenes Meeting on the Rainforests and Moral Obligation to Protect Them
-
Digital Finance Research Institute Introduce
-
Colorado Fracking Study Blames Faulty Wells for Water Contamination
-
Today’s Climate: August 20, 2010
-
'The Long COVID Survival Guide' to finding care and community