By Mariko OiBusiness reporter
Getty ImagesThe White House says Nippon Steel’s plan to buy US Steel should be probed on national security grounds,even though Japan is a “close ally”.
It also expressed concern about the deal’s potential impact on supply chain reliability in a Thursday statement.
The $15bn (£12bn) purchase of the 122-year-old steelmaker would create one of the world’s biggest steel companies.
But the powerful United Steelworkers (USW) union also criticised the deal as “shortsighted”.
In a statement, Joe Biden’s national economic adviser, Lael Brainard, said the US president believed that “the purchase of this iconic American-owned company by a foreign entity—even one from a close ally—appears to deserve serious scrutiny”.
Ms Brainard added that President Biden views US Steel as a “core component” of overall domestic steel production.
As he seeks re-election, Mr Biden has cast himself as one of the most pro-union US…
