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...Chris Deluzio, a Democratic congressman from western Pennsylvania, also said the report added to the national security risks in the proposed sale of US Steel to a foreign buyer....
...The biggest attempt to date came in December, with Nippon Steel launching an $15bn all-cash bid for US Steel....
...Steel has none of the sensitivities of high-tech social media; US Steel is not a direct supplier to the military....
...On Monday, US Steel announced that it would sell itself to Nippon Steel of Japan at an enterprise value of $15bn....
...Read more on the president’s push to raise prices on imported Chinese steel and what it could mean for the election....
...Whether the acquisition is approved or blocked by US authorities for national security reasons, Nippon Steel’s current dilemma has significant implications for Japan Inc as companies pursue growth outside...
...US steel unions have asked President Joe Biden to open a trade investigation into alleged Chinese unfair economic practices in the shipbuilding and maritime logistics sectors....
...But analysts said Chinese steel was still finding its way into western markets through Asian nations such as India, Japan and Vietnam importing cheap raw materials from China and then selling them to Europe...
...Capitalism reins in the sale of US Steel In August, Cleveland-Cliffs wrapped its unsolicited bid for US Steel in an American flag....
...In particular, they note, iron ore miners in sun-soaked Western Australia have huge opportunities to process their output near the point of extraction using green hydrogen....
...The company is often described by western politicians as a “Chinese” entity....
...The International Energy Agency, which says such projects will play an important role in absorbing CO₂ from heavy industries such as steel, cement and fertiliser production that are difficult to decarbonise...
...US President Joe Biden will travel to Intel’s site in Chandler, Arizona, on Wednesday to announce the package, which will go towards building new facilities for the company in the south-western state, as...
...Nippon Steel’s effort to take over US Steel is currently being blocked by the Biden administration....
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...The Biden administration wants to set up a western steel club that punishes China and does not particularly care what criteria it uses....
...Glencore plans to suspend production and sell its stake in the Koniambo nickel operations in New Caledonia after a sharp slump in price for the metal, a component of stainless steel and electric car batteries...
...If you add in Biden’s opposition to Nippon Steel’s takeover of US Steel, it seems there is a lot of protectionism around in Washington nowadays masquerading as something else....
...Beijing has rejected western warnings about overcapacity as protectionism, while state media have said it is part of a US plot to contain China’s development....
...The ship, which was carrying steel products, reported no serious damage....
...Paris wool blazer, £940 Cartier vintage gold Tank Louis Cartier watch, £7,250, susannahlovis.com Maison Margiela wool and alpaca Mended Zip sweater, £1,490, doverstreetmarket.com Japanese stainless-steel...
...Biden, is not keen on the takeover of US steel by Nippon Steel, Japanese company....
...The EU, Japan, the US and other western countries have imposed wide-ranging sanctions on Russia to curb flows of money and goods....
...Like the Middle East, consumer boycotts of western brands in Malaysia and Indonesia have previously lasted years. As one analyst put it: General Atlantic and CVC “best settle in and [hunker] down”....
...Tesla’s investors remain aware that manufacturers in China, rather than established western carmakers, are likely to be the biggest competitors....
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