Biden Expected to Block Nippon Steel's $15 Billion U.S. Steel Acquisition

The decision, reportedly tied to national security concerns, could escalate tensions over foreign investment in critical U.S. industries.

President Joe Biden reportedly plans to block Nippon Steel's $15 billion acquisition of U.S. Steel, citing national security risks, with a final decision expected later this month.
The Committee on Foreign Investment in the United States (CFIUS) has been reviewing the deal and must refer its findings to the president by December 22 or 23.
Nippon Steel has pledged significant investments in U.S. Steel facilities and offered $5,000 bonuses to employees to gain support, but the United Steelworkers union remains opposed to the deal.
U.S. Steel argues the acquisition is necessary to modernize its facilities and avoid potential plant closures, while critics fear foreign ownership could harm the strategic steel sector.
Both President-elect Donald Trump and President Biden have publicly opposed the takeover, signaling bipartisan resistance to foreign control of U.S. Steel.