US Steel Review Targeted by Republicans for Potential Probe
- Yellen, Raimondo urged to preserve documents related to sale
- Republicans say Cfius review tainted by ‘political interests’
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Republican lawmakers are calling on President Joe Biden’s administration to preserve documents related to the proposed sale of United States Steel Corp. to Japan-based Nippon Steel Corp., expressing “serious concerns” that politics have tainted an ongoing national security review of the deal and raising the prospect of a congressional probe.
Four House Republicans wrote to Treasury Secretary Janet Yellen and Commerce Secretary Gina Raimondo on Nov. 22, saying that recent developments related to the Committee on Foreign Investment in the United States “have called into question the integrity of its decision-making process,” and demanding the preservation of records related to the steel transaction.