Summers Warns Biden Team Against Pandering on US Steel Deal

Former Treasury Secretary Lawrence Summers said there’s no national-security justification for questioning the proposed takeover of United States Steel Corp. by Japan’s Nippon Steel Corp., amid a Biden administration review of the deal.

“There is no remotely plausible national-security rationale for questioning the Nippon-US Steel transaction,” Summers said on Bloomberg Television’s “Wall Street Week” with David Westin. “Japan is a staunch ally.”