Fri Jan 03 06:13:50 UTC 2025: ## Biden to Block US Steel Sale to Japan, Citing National Security Concerns
**Washington, D.C.** – President Joe Biden is expected to announce as early as Friday that he will block the $14.9 billion sale of Pittsburgh-based US Steel to Japan’s Nippon Steel, multiple US media outlets report. The decision, based on national security concerns, comes after the Committee on Foreign Investment in the United States (CFIUS) failed to reach a consensus on the deal last month.
The White House is reportedly citing national security risks as the reason for the blockage. This decision aligns with President Biden’s previous opposition to the sale during his unsuccessful reelection campaign, and with the stance of President-elect Donald Trump, who called the proposed merger “a horrible thing.”
The proposed acquisition, overwhelmingly approved by US Steel shareholders, would have created one of the world’s largest steel producers. While US Steel would have retained its name and Pittsburgh headquarters as a Nippon Steel subsidiary, the United Steelworkers union strongly opposed the deal, fearing job losses and harm to the domestic steel industry. The sale was also a significant issue in the crucial swing state of Pennsylvania.
The decision to block the sale is likely to strain relations with Japan, a key US ally. Japanese Prime Minister Shigeru Ishiba reportedly wrote to President Biden in November urging approval of the deal to protect bilateral ties. However, the Biden administration appears to have prioritized national security concerns above maintaining these relationships, at least in this instance.
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