Source: Palm Beach Examiner
by Karl Dickey
“So, yesterday, President Joe Biden blocked the sale/merger of U.S. Steel to Nippon Steel. Nippon and U.S. Steel issued a joint statement condemning Biden’s decision as the result of a process ‘deeply corrupted by politics.’ They also threatened legal action to try to revive the deal. U.S. Steel was in a difficult financial situation and depended on this sale to survive. Now, it is unclear how long U.S. Steel will be able to continue operations, jeopardizing the very workers Biden purported he was going to protect by blocking the sale. Blocking this sale is an affront to the property rights of these two corporations, which should be free to contract and transact as they see fit without any meddling by the federal government. It also steals the potential value of U.S. Steel shareholders and workers.” (01/04/25)
https://palmbeachexaminer.substack.com/p/bidens-steel-block-politics-over