President Biden has blocked the proposed merger of U.S. Steel with a Japanese company, citing national security concerns. The Committee on Foreign Investment in the United States (CFIUS) had failed to reach a consensus on the deal's potential risks last month. The decision comes just weeks before Biden's presidency ends and could potentially strain relations between the U.S. and Japan. Biden had previously opposed the deal in March, citing concerns about job security and labor agreements.
He stated that it was important to maintain strong American steel companies and that U.S. Steel should remain a domestically owned and operated entity
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