WASHINGTON, D.C. — John Murphy, Senior Vice President and Head of International at the U.S. Chamber of Commerce, made the following statement today regarding the Biden Administration’s decision to block Nippon Steel’s acquisition of U.S. Steel:
"The Biden administration’s politicization of Nippon Steel’s acquisition of U.S. Steel threatens to impose a high economic cost on the American people in the years ahead. The first detrimental impacts will likely be felt by steelworkers — in Pennsylvania, Indiana, and other states — whose livelihoods are threatened by this decision. The decision also could have a chilling effect on international investment in America. The investment of our important and reliable ally, Japan, supports nearly one million American jobs alone. The business community will continue to work to facilitate investments from abroad that help grow our economy and support American families."
