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Speaker-designate Mike Johnson has been re-elected to lead the United States’ House of Representatives.
Fox News reports that the Louisiana Republican won along party lines during the first round of voting.
The development comes despite sabre-rattling by some conservatives who threatened to withhold support from Johnson in protest of his handling of government funding and several other issues in the 118th Congress.
Johnson’s allies warned in return that a prolonged House Speaker fight could delay Congress’ joint session to certify President-elect Donald Trump’s victory, slated for January 6.
Johnson also had a key backer in President-elect Donald Trump, who emphasised his support for the GOP leader hours before the midday vote.
President Joe Biden has intervened in the proposed $14.9 billion acquisition of U.S. Steel by Japan’s Nippon Steel, opting to block the deal, sources familiar with the matter revealed to the Washington Post on Thursday.
This decision, attributed to two anonymous administration officials, highlights the administration’s increasing focus on protecting U.S. industries from foreign takeovers, especially in sectors deemed vital to national security.
A White House announcement regarding the president’s decision is anticipated as soon as Friday, unless President Biden has a sudden change of heart, a shift that officials do not expect, according to the Washington Post.
This planned revelation will likely offer additional details on the reasoning behind the decision, which is expected to have ripple effects on foreign investment policies.
In the face of mounting pressure from his senior advisers, who warned that rejecting a $14.9 billion investment from a leading Japanese corporation could create friction between Washington and Tokyo, President Biden ultimately decided to block the deal.
