Should a Japanese Buyer be Blocked From Acquiring US Steel?

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This week Joe Biden announced his opposition to Nippon Steel’s proposed purchase of US Steel, saying it was “vital” for the American steel company to remain “domestically owned and operated.”
The US House of Representatives passed a bill earlier this week that could see TikTok being banned in the United States due to Chinese ownership. On the same day, British Prime Minister Rishi Sunak laid out plans to change the law to prevent foreign states from buying British news organizations in order to block an Abu Dhabi led deal to buy The Spectator and Telegraph newspapers. To what extent should we worry about foreign ownership?

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