US warned Nippon Steel its U.S. Steel bid risks harming American industry, sources say

The Biden administration has informed Nippon Steel that its $14.9 billion acquisition of U.S. Steel poses a national security risk, potentially harming the American steel industry. Both Democrats and Republicans oppose the deal, with Vice President Kamala Harris and Donald Trump expressing concerns. The Committee on Foreign Investment in the United States (CFIUS) highlighted risks to national security, while U.S. Steel warned of job losses and weakened steel supply if the deal is blocked.