U.S. Steel Corporation acquisition blocked by Biden administration
The United States Steel Corporation and Nippon Steel filed lawsuits against the Biden administration, United Steelworkers, and Cleveland-Cliffs after the acquisition was blocked. The acquisition was deemed a threat to national security by both President Joe Biden and President-elect Donald Trump.
Key Points
- Block of acquisition by Biden administration
- Allegations of illegal coordination by USW and Cleveland-Cliffs
- National security concerns