💨 Abstract

US President Joe Biden has blocked a $14.3 billion acquisition of US Steel by Japan's Nippon Steel, emphasizing the importance of a strong domestically owned and operated steel industry for national security and supply chains. The decision could have broader implications for foreign investment in US companies, and while it is politically popular domestically, it may discourage future overseas capital inflows.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖