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2025
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07
Nippon Steel offers Biden veto over US Steel output, report says
Nippon Steel Corp. offered to give the US government a veto over any reduction in US Steel Corp.’s production capacity in a last-ditch effort to get President Joe Biden’s approval for its takeover of the American steelmaker, the Washington Post reported.
Nippon Steel Corp. offered to give the US government a veto over any reduction in US Steel Corp.’s production capacity in a last-ditch effort to get President Joe Biden’s approval for its takeover of the American steelmaker, the Washington Post reported.
The proposal is aimed at addressing concerns raised by the Committee on Foreign Investment in the US, or CFIUS, which said last week that the Japanese company’s takeover of US Steel would lead to a decline in American steel output, the newspaper said.
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