President Joe Biden has officially blocked the sale of US Steel to Nippon Steel this morning.
In a statement released by the White House Biden says the sale was blocked as it could “create risk for our national security and our critical supply chains.”
US Steel and Nippon have yet to comment on the official decision.
Governor Josh Shapiro weighed in on the blocked sale in a statement.
“As next steps play out and as I have expressed directly to U.S. Steel leadership, I expect U.S. Steel to uphold their commitments to Western Pennsylvania, refrain from threatening the jobs and livelihoods of the Pennsylvanians who work at the Mon Valley Works and at U.S. Steel HQ and their families, and work collaboratively to ensure the future of American steelmaking takes place right here in our Commonwealth,” Shapiro said in the statement.
“I also expect any other potential buyers to demonstrate the strong commitments to capital investment and protecting and growing Pennsylvania jobs that Nippon Steel placed on the table during my continued dialogue with their leadership – and I will continue to engage with all interested parties directly as I continue to fight for Pennsylvania.”