Biden’s US Steel veto splits inner circle

Trade halted: A converter process of Nippon Steel’s Kimitsu iron mill plant in Tokyo. Nippon Steel offered to give the US government a veto over any reduction in US Steel Corp’s production capacity. — AFP

NEW YORK: Two weeks after the US election, hundreds of allies gathered at the White House to soothe Joe Biden in defeat.

Tracking the closed-door bash for clues was a group rarely interested in the routine preening of Washington: arbitrage traders.