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Chinese steelmaker hailed for dropping U.S. deal

Lawmakers from U.S. steel-producing states on Thursday welcomed a decision by China steel company Anshan Iron and Steel Group to put its investment in a U.S. steel plant on hold.

“Not only would this venture have set a dangerous precedent further undermining our domestic steel market, but it posed serious national security concerns,” Rep. Tim Murphy, a Pennsylvania Republican, said in a statement. Get the full story »