A committee of top government agency officials has informed President Joe Biden that they have not reached a consensus on whether the sale of US Steel to a Japanese rival poses a national security risk. The fate of Nippon Steel's acquisition of US Steel now rests in the hands of President Biden, who is expected to block the deal after advocating for the company to remain American-owned to safeguard domestic steel jobs.
The Committee for Foreign Investment in the United States (CFIUS) has been deadlocked over whether the deal presents a national security risk beyond being a political controversy. The committee, chaired by the Treasury and composed of high-level officials from the president's Cabinet agencies responsible for national security, typically provides a final report to guide the president's decision on potential risks associated with a deal.
