The
Biden administration has expressed concerns over Nippon Steel's $14.9 billion
bid to acquire U.S. Steel, citing national security risks. Both Democratic and
Republican leaders oppose the deal, which could harm American steel production
and jobs. Nippon Steel and U.S. Steel argue the deal would benefit the
industry.
Opposition to the acquisition spans both
major political parties. Vice President Kamala Harris and former President
Donald Trump have both voiced strong objections. The Committee on Foreign
Investment in the United States (CFIUS) articulated its concerns in a letter,
stating the deal could undermine U.S. steel production and trade protections.