Pentagon, Treasury and state department all conclude $15bn Nippon Steel acquisition poses no national security risk
The Pentagon, US Treasury and state department have all concluded that Nippon Steel’s $15bn acquisition of US Steel poses no national security risks, even though President Joe Biden is expected to block the deal. The conclusions come despite Biden’s insistence that the purchase of the Pittsburgh-based steelmaker poses economic and national security risks.
Cfius completed a review in September that concluded that the deal posed national security risks that could not be mitigated — a result critics said was tailored to facilitate Biden’s political stance. But the finding was not formally sent to Biden who granted a 90-day extension of the review. The Treasury and USTR declined to comment. The Pentagon, state department and commerce department did not respond to a request for comment.
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