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U.S. Steel shares plummet amid questions over the fate of its merger with Nippon Steel

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Pittsburgh-area union members throw support behind Harris as she opposes sale of U.S. Steel


Pittsburgh-area union members throw support behind Harris as she opposes sale of U.S. Steel

02:45

U.S. Steel shares plunged on Wednesday as Wall Street questioned whether its $14.1 billion deal with Japan’s Nippon Steel is at risk of derailing.

Shares of U.S. Steel plunged as much as 25% in afternoon trading after the Washington Post reported President Joe Biden is preparing to formally block the proposed acquisition. As of 2:35 p.m., shares of U.S. Steel were down $7.12, or 20%, to $28.48. 

At an afternoon briefing, a White House official downplayed the Washington Post report, which cited three people familiar with the president’s plans. In a statement, the White House cited a process of review by the Committee on Foreign Investments in the United States, or CFIUS, a panel chaired by the Treasury Secretary. 

“CFIUS hasn’t transmitted a recommendation to the President, and that’s the next step in this process,” a White House official stated.

—This is a developing story and will be updated.



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Open: This is “Face the Nation with Margaret Brennan,” Dec. 8, 2024

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Open: This is “Face the Nation with Margaret Brennan,” Dec. 8, 2024 – CBS News


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This week on “Face the Nation with Margaret Brennan,” Syrian rebels have taken control of Damascus, overthrowing the regime of President Bashar Assad. Plus, more on the congressional task force investigation into the security failures leading to the assassination attempts against President-elect Donald Trump earlier this year.

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Trump’s tariffs: A tax on American consumers

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Trump’s tariffs: A tax on American consumers – CBS News


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President-elect Donald Trump has promised to impose across-the-board tariffs on imported goods from some allies and adversaries, claiming that foreign nations will pay such taxes to the U.S. Treasury. But it’s American consumers who would actually be opening their wallets to pay for tariffs. Correspondent David Pogue talks with Dartmouth economics professor Doug Irwin about the unintended consequences from such trade barriers.

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Nature: Elk in the Ozarks

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Nature: Elk in the Ozarks – CBS News


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We leave you this Sunday with elk braving this frosty morning in the Ozarks of Missouri. Videographer: Scot Miller.

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