U.S. Steel and Japan’s Nippon Steel are suing the United States government because President Biden stopped their merger. They say that the president and other officials are being unfair and hurting American steelworkers. The companies want a new review of the deal.
They also sued an American steel company called Cleveland-Cliffs and two people from the union United Steelworkers. They say they worked together to stop the merger.
The head of the union said he will defend himself against the claims.
President Biden blocked the merger because a group in charge of checking foreign investments couldn’t decide if it should happen. He wants to make sure that the steel industry in the U.S. stays strong and American-owned.
The companies hope to go forward with the merger and keep their businesses running.
Vocabulary List:
- Merger /ˈmɜːrdʒər/ (noun): The combination of two or more companies into a single entity.
- Suing /ˈsuː.ɪŋ/ (verb): Taking legal action against someone in a court of law.
- Unfair /ʌnˈfɛr/ (adjective): Not just or equitable; biased or discriminatory.
- Claims /kleɪmz/ (noun): Statements or assertions often in a legal context.
- Industry /ˈɪndəstri/ (noun): All the businesses that produce a particular product or service.
- Review /rɪˈvjuː/ (verb): To examine or consider something again typically to evaluate it.
