President Joe Biden is opposing a proposed sale of U.S. Steel to a Japanese company.
“U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated,” Biden will say in a statement to be published on Thursday.
The White House confirmed Biden’s opposition to the proposed sale to the Washington Examiner. It had previously told reporters that the purchase of the Pittsburgh-based conglomerate to Nippon Steel would be subject to a review from the Committee on Foreign Investment in the United States.
A number of politicians have also come out in opposition to the proposed sale, including Biden’s 2024 general election opponent, former President Donald Trump.
“I would block it. I think it’s
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