Takahiro Mori, Vice Chairman of Nippon Steel, will meet with representatives of the U.S. Committee of Foreign Investment on Wednesday to secure the acquisition of US Steel (X.US). The Japanese giant’s $15 billion takeover of the company has faced opposition from the White House, which analysts believe stems solely from the Democratic electoral campaign needs. The Biden administration has yet to issue a firm decision; however, there is already talk of the potentially negative impact of "neo-protectionism" on capital inflows and innovation in the U.S. steel sector, should the deal end up blocked.
After a previous 7% decline, the situation for US Steel shares is somewhat stabilizing. Over the last 4 hours, the company's stock has rebounded by 3%, responding positively to the announcement of talks between the U.S. and Japan, the outcome of which will be crucial for further momentum. Source: xStation5.
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