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BusinessDecember 27, 2023

(President Joe Biden) believes the purchase of this iconic American-owned company by a foreign entity — even one from a close ally — appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability. ...

Senior melt operator Randy Feltmeyer watches a giant ladle as it backs away after pouring its contents of red-hot iron into a vessel in the basic oxygen furnace as part of the process of producing steel at the U.S. Steel Granite City Works facility in Granite City, Illinois.
Senior melt operator Randy Feltmeyer watches a giant ladle as it backs away after pouring its contents of red-hot iron into a vessel in the basic oxygen furnace as part of the process of producing steel at the U.S. Steel Granite City Works facility in Granite City, Illinois.Associated Press

(President Joe Biden) believes the purchase of this iconic American-owned company by a foreign entity — even one from a close ally — appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability. — National economic adviser Lael Brainard on Biden's thoughts on the purchase of U.S. Steel by Japanese company Nippon Steel, according to statement from the White House.

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