The Committee on Foreign Investment in the United States (CFIUS) was unable to reach a consensus on whether to approve or reject Nippon Steel's acquisition of U.S. Steel, leaving the decision to President Biden. The deal had faced opposition from both Biden and his predecessor Donald Trump, who were courting union votes during the 2020 election won by Trump. Despite CFIUS' rare rejection of deals involving closely-allied countries like Japan, the panel submitted its analysis to the president, who made the final decision.
https://channelnewsasia.com/business/yellen-says-cfius-made-thorough-analysis-blocked-us-steel-nippon-steel-merger-4846226President Joe Biden blocked a $15 billion acquisition by Nippon Steel, Japan's largest steelmaker, of US Steel, citing national security concerns. The decision was made after the Committee on Foreign Investment in the United States (CFIUS) failed to reach an agreement on the deal last month.
https://www.manilatimes.net/2025/01/06/business/foreign-business/the-rise-and-near-decline-of-us-steel/2030561President Joe Biden has blocked a proposed $15 billion deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel, citing concerns that it would create national security risks and potentially harm American interests. The decision was made after the Committee on Foreign Investment in the United States (CFIUS) failed to reach consensus on the matter last month. Nippon Steel and U.S. Steel have blasted the decision as a "clear violation of due process and the law" and threatened to sue, arguing that Biden's action will damage relations between the US and Japan. The deal had been opposed by some federal agencies, including those concerned about potential job losses and labor agreements.
https://www.boston25news.com/news/biden-blocks-14/ADB7NWNSUVGUTP4A3YY54KEZJA/President Joe Biden blocked Nippon Steel's $14.3 billion acquisition of US Steel, citing national security concerns and aligning with the United Steelworkers union's opposition. The decision marks a significant intervention in a deal that was intended to revitalize the struggling steelmaker with $2.7 billion in investment for its domestic operations. The Committee on Foreign Investment in the United States (CFIUS) failed to reach a consensus, leaving the decision to Biden. The move is seen as a protection of union jobs and national security, but critics argue it was politically motivated. US Steel and Nippon issued a joint statement condemning the decision and vowing to challenge it in court, warning that blocking the deal would deny essential investment and risk the closure of mills and thousands of union jobs.
https://www.firstpost.com/world/united-states/no-sealing-the-steel-deal-why-is-biden-blocking-japans-nippon-from-taking-over-us-steel-13849733.htmlUS President Joe Biden blocked Nippon Steel's $14.9 billion purchase of US Steel on Friday due to national security concerns, despite the company making concessions and paying a premium to clinch the deal. The decision was met with opposition from Nippon and US Steel, who called it a "clear violation of due process" and vowed to take legal action. However, the United Steelworkers union praised Biden's decision, citing concerns about job losses and national security. The deal had been under review for over a year and was opposed by both President Biden and his predecessor Donald Trump. Nippon Steel has threatened to sue the US government, but lawyers say such a move would be difficult. The Committee on Foreign Investment in the United States referred the decision to Biden after failing to reach consensus, and it is unclear whether another buyer will emerge.
https://www.brecorder.com/news/40341031/biden-blocks-takeover-of-us-steel-by-nippon-steelTikTok's survival in the US is uncertain as it faces pressure from the Committee on Foreign Investment in the United States (CFIUS) to divest its Chinese ownership, with ByteDance dismissing calls for a sale. Meanwhile, tensions are rising between China and Taiwan, with the latter being a critical waterway for global supply chains due to half of the world's container fleet passing through it this year. This has created a combustible situation in the semiconductor supply chain, which relies heavily on Taiwan. In other news, Nepal's mountain communities are facing an uncertain future as over-picking and climate change threaten the lucrative yartsa gunbu fungus, while China's maritime militia forces have been spotted near Taiwan. Additionally, smuggled commodities from India and Bangladesh are being used to support Myanmar's Arakan region, which is facing a humanitarian crisis due to violence against the Rohingya minority.
https://thediplomat.com/2025/01/taiwans-tiktok-liberal-paradox/President Joe Biden blocked a $15 billion acquisition of US Steel by Nippon Steel, citing national security concerns after the Committee on Foreign Investment in the United States failed to reach consensus on the deal. The decision marks a significant move to protect a historic American company with roots dating back to the late 19th century, which has produced materials for major infrastructure projects such as bridges, skyscrapers, tanks and battleships.
https://apnews.com/article/us-steel-carnegie-nippon-japan-de0d4fa53949aceb953bc1e88bb51f2c