Justice Department Considers Antitrust Probe into U.S. Steel Purchase by Nippon Steel

The Justice Department is reportedly considering launching an antitrust probe into the proposed $14.9 billion acquisition of U.S. Steel by Japan’s Nippon Steel. The deal has drawn skepticism from both the White House and former President Donald Trump, with concerns revolving around its potential impact on national security and the domestic steel industry. Bipartisan criticism has also surfaced from congressional delegations, fueling the interest in rigorous scrutiny. This move reflects a trend of heightened national security scrutiny surrounding foreign purchases of U.S. companies. The acquisition was met with public opposition from President Biden and other political figures, underlining the significance of the ongoing debate. The situation remains fluid as Nippon Steel seeks to allay fears and salvage the deal. The unfolding developments hold implications for the future of the American steel industry and international trade relations.