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President of the United States, Joe Biden, will block purchase of United States Steel (US Steel) by Nippon Steel after, according to Financial TimesHe Committee on Foreign Investments told the Japanese company that the operation was national security issues This could not be mitigated by either side.

Asian Steel CompanyHowever, he assured that did not receive any information on the case the said organization, while recalling that it has always maintained that The deal will not threaten US national security.

By means of a statement Asian company marked:

Nippon Steel firmly believes that the U.S. government should properly administer the procedures in this matter in accordance with the law.

In turn, the White House representative Karin Jean-Pierresaid the analysis was “surprisingly independent,” although it still No recommendations were made to the President.

Anonymous sources collected Bloomberg They note that Biden to veto acquisition once the Committee formally submits its views, which could happen this week.

However, US Steel has already warned this very Wednesday, what if The sale is valued at $14.1 billion. (12.683 million euros), they will have to close factories and possibly relocate headquarterscurrently located in Pittsburgh, Pennsylvania.

Your own CEO, David Burritt remembered this Nippon Steel has promised to invest almost $3 billion. (2.699 million euros) for modernize factories equipped with the group’s legacy technology, which will be key to maintaining competitiveness and jobs. “We won’t do this if the agreement fails,” Burritt admitted: “I don’t have any money,” he added.

The manager made these statements just days after the US Vice President and Democratic presidential candidate in the November elections Kamala Harrispositioned himself against buying after saying this US Steel “had to remain in North American hands.”

▶️ #VIDEO | Kamala Harris to speak out against Nippon Steel’s purchase of US Steel. 🇺🇸 pic.twitter.com/vaiKEp2BtS

— Economist (@eleconomista) September 2, 2024

Former President Donald Trump even asked to directly block the operation.

(Europe Press)