Biden Reaffirms Opposition to Nippon Steel's $14.9B Bid for U.S. Steel

Despite an extended national security review, President Biden maintains his stance against the proposed merger, citing national security concerns.

President Joe Biden stated he has not changed his mind about opposing Nippon Steel's bid for U.S. Steel.
The Committee on Foreign Investment in the United States (CFIUS) extended the national security review of the $14.9 billion deal.
CFIUS previously cited national security risks, particularly threats to the steel supply chain for critical U.S. industries.
Nippon Steel responded with a 100-page letter pledging significant investments in U.S. Steel facilities and maintaining domestic production capacity.
The merger is a politically sensitive issue, especially with the upcoming November presidential election, and both major parties are courting union voters who oppose the deal.