Scott Bessent's Treasury Vision: Mergers and Fair Reviews

Scott Bessent, chosen by U.S. President-elect Donald Trump for the Treasury Department, assures a fair review for the blocked merger between U.S. Steel and Nippon Steel if it resurfaces under Trump's administration. The merger, halted by Biden's administration, remains contested in U.S. courts.

Scott Bessent, President-elect Donald Trump's pick for the Treasury Department, has promised an unbiased assessment if the previously blocked merger between U.S. Steel and Nippon Steel is reconsidered under the incoming administration.

Bessent made the statement during a session with the U.S. Senate Finance Committee, highlighting that the Committee on Foreign Investment in the United States (CFIUS) will undertake its standard review process should the deal resurface.

Initially blocked by the Biden administration, the merger is now a subject of legal contention, with the steel giants challenging the decision in U.S. courts.

(With inputs from agencies.)