#USSteel & #NipponSteel announced on Fri that they had entered into an agreement w/the #USgovernment to seal the terms of a “partnership” between the companies, >1yr after the Japanese #steel maker 1st tried to buy its US competitor.
President Joe #Biden, under pressure from the #UnitedSteelworkers #union, blocked the deal on the basis that it was a threat to #NationalSecurity. #Trump, who also initially opposed the deal, reversed himself & decided…to revive it.