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US Steel-Nippon Steel block is necessary to protect national security, supply chains, Biden says

( January 3, 2025, 13:32 GMT | Official Statement) -- MLex Summary: President Joe Biden said today that blocking Nippon Steel's proposed acquisition of US Steel was necessary to protect the US's national security and its critical supply chains. "A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains. That is because steel powers our country: our infrastructure, our auto industry, and our defense industrial base. Without domestic steel production and domestic steel workers, our nation is less strong and less secure," the president said.See full statement....

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