According to insiders, the Biden administration is likely to delay a final decision on blocking the sale of US Steel to Japan’s Nippon Steel until after the election, delaying a process that has been stuck in the presidential election battle for some time.
Leading Democrats and Republicans, including President Joe Biden, Vice President Kamala Harris and former President Donald Trump, have agreed that Nippon’s $15 billion bid to acquire US Steel should not go ahead and that the company should remain American-owned and run by American companies.
However, the prospect of the deal being blocked before the election has sparked opposition from business groups and legal experts, who fear that political interests could influence a process that should be focused on national security.
