Japan-owned Nippon Steel urged President Biden to look at the steps it has taken to address U.S. national security concerns|@nippon_steel|X
Japan’s Nippon Steel’s $14.1 billion bid to acquire U.S. Steel has been referred to President Joe Biden after the Committee on Foreign Investment in the U.S. (CFIUS) reviewing it failed to reach a consensus.
Nippon urged Biden to examine the steps it has taken to address national security concerns. It has pledged to invest $2.7 billion in U.S. Steel’s aging plants, aimed at protecting American jobs and improving competitiveness against China.
Both the Biden administration and President-elect Trump have opposed foreign ownership of U.S. Steel, reiterating the importance of domestic control.