U.S. Panel Split on Nippon Steel's $14.9 Billion U.S. Steel Bid

Published 16 hours agoX

U.S. Panel Split on Nippon Steel's $14.9 Billion U.S. Steel Bid

The Committee on Foreign Investment in the U.S. (CFIUS) has reached a divided stance on Nippon Steel's $14.9 billion acquisition proposal for U.S. Steel. Despite the split among its members, the majority believe the national security risks associated with the deal can be mitigated. President Donald Trump now faces the task of making a final decision on the matter, with 15 days to affirm or extend the decision deadline, as reported by Reuters.

In an attempt to ease concerns, Nippon Steel has made commitments to significant investments in the United States, including the construction of a new steel mill projected to cost up to $4 billion. Meanwhile, the United Steelworkers union is expressing strong opposition, urging President Trump to block the deal based on perceived national security threats and criticizing Nippon Steel's trade practices.

Both Nippon Steel and U.S. Steel have not yet issued public statements on the issue, as anticipation builds around President Trump's upcoming decision. The outcome will have important repercussions for the domestic steel industry and international business relations.

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