Biden Faces Critical Decision on Nippon Steel's $15 Billion Bid for U.S. Steel

A U.S. government panel failed to reach consensus on the deal, leaving the final decision to President Biden, who has expressed opposition to foreign ownership of the steelmaker.

The United States (CFIUS) referred the proposed $15 billion sale of U.S. Steel to Japan's Nippon Steel to President Biden after failing to reach consensus on national security risks.
Biden and President-elect Donald Trump have both voiced opposition to the deal, citing concerns over maintaining domestic ownership of a key American steel producer.
Nippon Steel has pledged $2.7 billion in investments, job protections, and maintaining U.S. Steel's headquarters in Pittsburgh to address national security and economic concerns.
The United Steelworkers union opposes the acquisition, questioning Nippon's long-term commitment to union jobs and domestic steel production.
If Biden blocks the deal, Nippon Steel and U.S. Steel have indicated potential legal challenges, while Japan's government has warned of possible diplomatic repercussions.