Autos group: Don’t allow domestic buy of U.S. Steel if Nippon deal falls through

If the bid by Japan-based Nippon Steel to purchase U.S. Steel falls through – due to U.S. foreign investment review or for other reasons – the Biden administration should not allow the company to be acquired by its domestic competitor, Cleveland-Cliffs, Inc., an automotive group contends, citing supply chain and antitrust concerns and warning that the administration’s climate agenda could take a hit. “If the administration has concerns about the Nippon Steel deal, it must seriously consider alternative outcomes. One...