Biden Faces Pressure Over Nippon Steel's $14.9 Billion Bid for U.S. Steel

The proposed acquisition has sparked a national security review and bipartisan political opposition amid concerns about American jobs and strategic industries.

Nippon Steel is making a final effort to gain approval for its $14.9 billion acquisition of U.S. Steel, despite strong opposition from both President Joe Biden and Vice President Kamala Harris.
The United Steelworkers union leadership opposes the deal, citing national security concerns and doubts about Nippon's commitments, though some local union members support it.
The Committee on Foreign Investment in the United States (CFIUS) has raised national security concerns, warning that the deal could weaken the U.S. steel supply chain.
Nippon Steel has pledged to invest $2.7 billion in U.S. Steel's facilities, but critics argue the promises are insufficient and lack binding guarantees.
The deal's rejection could strain U.S.-Japan relations, with Japanese officials expressing disappointment and concern over the potential impact on bilateral economic ties.