National Security Adviser Jake Sullivan clarifies that President Biden does not support Nippon Steel's acquisition of U.S. Steel, despite granting an extension for review.
National Security Adviser Jake Sullivan clarified that the extension granted to Nippon Steel Corp. for its $14.1 billion acquisition of United States Steel Corp. does not reflect President Biden's support for the deal. He emphasized that the extension is a procedural step to ensure a comprehensive review by the Committee on Foreign Investment in the U.S. The decision deadline has been pushed past the upcoming presidential election, and Biden has previously expressed a preference for U.S. Steel to remain domestically owned.
September 21, 2024
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