The Committee on Foreign Investment in the United States (CFIUS) chose not to recommend whether Japan's Nippon Steel should acquire U.S. Steel, leaving President Biden to decide.
President Biden has previously stated that U.S. Steel should remain American-owned, and it is anticipated he will block the $14 billion deal before leaving office.
The CFIUS warned that the transaction could endanger U.S. national security and lead to a decline in American steel production due to Nippon's global business interests.
Treasury Secretary Janet L. Yellen emphasized the significance of attracting foreign investment while expressing caution about the implications of the potential deal.
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