Open Thread December 23 2023 Nippon Steel Purchasing U.S. Steel

President Joe Biden “has been clear that we welcome manufacturers across the world building their futures in America with American jobs and American workers. However, he also believes the purchase of this iconic American-owned U.S Steel company by a foreign entity — even one from a close ally — appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability.”

Labor in the form of United Steelworkers union oppose the proposed sale. A number of Rust Belt politicians have called for a CFIUS review to determine whether it should be blocked on national security grounds.

Biden believes Nippon purchase of U.S. Steel deserves ‘serious scrutiny,’ POLITICO, Doug Palmer