Nippon-US Steel Deal Merits ‘Serious Scrutiny,’ Brainard Says
- Top Biden economic aide cites national security considerations
- CFIUS review is in early stages and may extend into 2025
The United States Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania.
Photographer: Justin Merriman/BloombergThis article is for subscribers only.
President Joe Biden’s top economic aide said the national security implications of a Japanese company’s bid to purchase United States Steel Corp. deserve a close look from US officials.
“Steel is an industry that has very important national security considerations” as well as supply-chain concerns, Lael Brainard, who leads the National Economic Council, said Monday at a Brookings Institution event, referring to Nippon Steel Corp.’s proposed $14.1 billion deal. “So the particular transaction does merit serious scrutiny under our laws.”