President Joe Biden has expressed his opposition to Nippon Steel acquiring U.S. Steel, but the federal government seems to be taking its time in deciding whether to block the deal. White House officials did not confirm whether the president would formally block the acquisition, waiting on a report from the Committee on Foreign Investment in the United States.
With significant political implications in Pennsylvania, a key state in the presidential election, Biden, Vice President Kamala Harris, and Donald Trump have all voiced their opposition to the deal. U.S. Steel employees, represented by the United Steelworkers union, fear job losses without job protections. Proponents of the merger argue that it could save older mills from closure.
The Washington Post initially reported that the deal would be blocked, only to later report that a decision would be delayed. The fate of the acquisition remains uncertain as the government reviews the case.
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