President Joe Biden blocked the purchase of U.S. Steel by Japan’s Nippon Steel on Friday morning.
Biden announced in a statement he had made the decision due to “credible evidence” that the purchase could threaten national security.
The president’s decision comes after the Japanese corporation had offered to acquire the company for $14.9 billion.
This is a developing story and will be updated.
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This article was originally published at www.washingtonexaminer.com
