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Biden seeks to block U.S. Steel purchase

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President Joe Biden announced he would seek to block the proposed acquisition of U.S. Steel by Japan’s Nippon Steel.

“As I have said many times, steel production – and the steel workers who produce it – are the backbone of our nation,” Biden said. “A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains.”

President-elect Donald Trump also had pledged to block the $14.3 billion deal.

Read more from CNN.

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