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Attention
1.US Steel (XN) has agreed to the acquisition by a new tab opening, in Japan. $Nippon Steel (5401.JP)$
2.Concerns about unemployment
3.United States Steel's stock price fell again on Thursday, dropping 18% over two days to $38.26 due to concerns that Mr. Biden may express opposition.
Details
1.President Joe Biden stated on Thursday that the $14.9 billion acquisition must remain in the hands of domestically owned U.S. companies, marking the first clear opposition to the deal.
The President stated, in a statement, that "US Steel has been a symbol of the United States' iron & steel industry for over a century, and it is extremely important that it remains an domestically owned and operated U.S. iron & steel company."
However, it is currently unclear whether Mr. Biden will use U.S. regulatory agencies to break the agreement. The Committee on Foreign Investment in the United States (CFIUS), a powerful committee that reviews foreign investment in U.S. companies, has the authority to recommend the agreement's prevention for national security reasons.Japan Steel stated in a statement on Thursday that this acquisition would bring "clear benefits to United States Steel, union members, the broader U.S. iron & steel industry, and U.S. national security."
However, it is unclear at this time whether President Biden will use US regulatory authorities to reverse the agreement. The Committee on Foreign Investment in the United States (CFIUS), a powerful panel that reviews foreign investments in US companies, has the authority to recommend blocking the deal on national security grounds.

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