Hey there! Have you heard about steel? It’s that super strong metal used to build things like buildings, bridges, and even your bicycle 🚲! Well, there’s some big news in the steel world!
Nippon Steel, a giant steel company from Japan, wants to buy U.S. Steel, a big American steel company. They offered $14.9 billion dollars! That’s a lot of money 💰!
But President Biden had concerns. He was worried that this deal might not be the best for America, especially when it comes to national security 🛡️. So, at first, he blocked the deal.
However, things changed recently. The Biden administration decided to delay its decision until June 18, 2025. This gives both companies more time to work things out and maybe make the deal happen!
The companies are happy about this delay and hope they can convince everyone that the deal is a good idea 🤝.
Some people are still not sure, like the United Steelworkers union. They think it might not be the best for workers. Even in Japan, officials are talking about it because they want to make sure the friendship between Japan and the U.S. stays strong 🇺🇸🇯🇵.
It’s like when you’re trading toys with a friend, but you need to make sure it’s fair and that everyone is happy with the trade!
We’ll have to wait and see what happens next in this steel story. Stay tuned!
Reference(s):
Companies keen after U.S. delays nixing Nippon Steel-U.S. Steel merger
cgtn.com
