The Latest Breaking News from Nippon Steel

President Biden blocks the billion acquisition of U.S. Steel by Nippon Steel, citing national security concerns and potential strain on U.S.-Japan rela...

Biden and President-elect Donald Trump have both previously slammed the potential takeover.

The decision was left with Biden after a US government panel failed to reach a consensus in late December on whether US Steel's acquisition by Nippon Steel threatens Washington's national security.

President Biden blocked Nippon Steel's purchase of U.S. Steel, citing national security. President-elect Trump also opposed the deal.

A White House announcement of the presidential finding is being planned unless Biden has a last-minute change of heart, according to the Washington Post and the New York Times.

US president expected to announce decision to block proposed sale of Pittsburgh-based steelmaker as early as Friday.

The S&P 500 Index ($SPX ) (SPY ) Tuesday closed down -0.43%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.07%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.87%. March E-mini S&P futures (ESH25 ) are down -0.37%, and March E-mini Nasdaq futures...

Progressives and environmental groups have teamed up with a rival steelmaker to lobby against the U.S. Steel deal.

The Committee on Foreign Investment doesn't recommend blocking the merger, and neither should President Joe Biden.