Fri Jan 03 16:40:50 UTC 2025: ## Biden Blocks $14.9 Billion Sale of US Steel to Nippon Steel, Citing National Security Concerns

**Washington, D.C. – January 3, 2025** – President Joe Biden has blocked the $14.9 billion sale of US Steel to Japan’s Nippon Steel, citing national security risks and the need to protect American industry. The decision, announced Friday, comes less than three weeks before the end of Biden’s term and follows months of political debate.

The acquisition, which would have placed a major American steel producer under foreign control, was met with bipartisan opposition. President-elect Donald Trump and incoming Vice President J.D. Vance both campaigned against the sale. While Nippon Steel argued the takeover was necessary to save the struggling US company, opponents voiced concerns about potential job losses. Nippon Steel attempted to alleviate these concerns by pledging to maintain unionized facilities until their contract expires in September 2026.

The decision followed a deadlock within the Committee on Foreign Investment in the United States (CFIUS), which failed to reach a consensus on the national security implications. Biden, legally obligated to act within 15 days of the CFIUS deadlock, ultimately sided with those who argued the sale posed a threat.

Biden defended his decision, highlighting his administration’s efforts to revitalize American manufacturing. He cited the tripling of tariffs on Chinese steel imports and significant investments in domestic steel production as evidence of his success in strengthening the industry. He emphasized that a strong, domestically owned steel industry is crucial for national security and resilient supply chains.

Nippon Steel and US Steel have vowed to challenge the decision in court, alleging procedural irregularities in the government’s review process.

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