CFIUS Struggles with Nippon Steel's U.S. Steel Bid

The Committee on Foreign Investment in the U.S. is unable to decide on national security risks in Nippon Steel's $15 billion bid for U.S. Steel. Both President Biden and President-elect Trump oppose the deal, with CFIUS citing national security concerns about domestic steel production.

The Committee on Foreign Investment in the United States (CFIUS) informed the White House it couldn't reach a consensus on the security risks posed by Nippon Steel's acquisition of U.S. Steel, as per the Washington Post.

The deal, valued at $15 billion and announced last December, awaits its fate as neither President Joe Biden nor President-elect Donald Trump support it. CFIUS reported that such a takeover might compromise domestic steel production, posing "a national security risk" according to sources.

CFIUS, led by the U.S. Treasury Department, has passed the decision to President Biden, offering a 15-day window for action. Both the Treasury Department and the White House have not commented, and Nippon Steel has withheld statements.

(With inputs from agencies.)