WASHINGTON (AP) — A powerful government panel has failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel. The Committee on Foreign Investment in the United States on Monday sent its long-awaited report to President Joe Biden, a longtime opponent of the deal. Some federal agencies represented on the panel were skeptical that allowing a Japanese company to buy an American-owned steelmaker would create national security risks. That’s according to a U.S. official familiar with the matter. Both Biden and President-elect Donald Trump opposed the merger and vowed to block it. Nippon Steel says it is confident the deal will go ahead.
Biden To Decide On U.S Steel Acquisition
December 24, 2024 5:02 am