Biden Blocks U.S. Steel Sale to Preserve American Ownership

President Biden's recent decision to block the sale of U.S. Steel is aimed at maintaining American ownership of one of the nation's largest steel producers, rather than affecting relations with Japan, according to the White House. This move underscores the administration's focus on domestic steel-making.

President Biden's recent move to prevent the sale of U.S. Steel is focused on preserving American ownership in the industry, a top official clarified on Friday.

White House National Security spokesperson John Kirby emphasized that the decision is about supporting U.S. steel-making efforts rather than impacting the relationship with Japan, a key ally in the Indo-Pacific region.

This decision highlights the administration's commitment to keeping one of the largest U.S. steel producers under American control to bolster domestic manufacturing.

(With inputs from agencies.)