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Nippon-US Steel Deal Merits ‘Serious Scrutiny,’ Brainard Says
President Joe Biden’s top economic aide said the national security implications of a Japanese company’s bid to purchase United States Steel Corp. deserve a close look from US officials. “Steel is an industry that has very important national security considerations” as well as supply-chain concerns, Lael Brainard, who leads the National Economic Council, said Monday at a Brookings Institution event, referring to Nippon Steel Corp.’s proposed $14.1 billion deal. “So the particular transaction does merit serious scrutiny under our laws.” The sale, which would create the world’s second-largest steel ... (full story)