US foreign investment panel split on Nippon-US Steel deal

Treasury, which leads the Committee on Foreign Investment in the US , wrote to both companies on Saturday saying the nine agencies on the panel were struggling to reach a consensus ahead of the deadline to submit a recommendation to President Joe Biden, the report added, citing several sources familiar with the talks.

CFIUS, a powerful committee charged with reviewing foreign investments in US firms for national security risks, has until Dec. 22 to make a decision on whether to approve, block or extend the timeline for the deal’s review,within the US since it was announced last year, with both Biden and his incoming successor Donald Trump publicly indicating their

CFIUS told the two companies in September that the deal would create national security risks because it could hurt the supply of steel needed for critical transportation, construction and agriculture projects, according to a letter seen byEarnings from iron ore, Australia’s major export, are forecast to decline on waning prices that have dropped about a quarter this year.

The benchmark smelter treatment charges for next year have been set by Chilean copper miner Antofagasta and China's Jiangxi Copper.

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Trump to Block Nippon Steel's $14 Billion U.S. Steel AcquisitionPresident-elect Trump announced his intention to use tax incentives to prevent Nippon Steel's acquisition of U.S. Steel, a deal valued at $14 billion, citing concerns over foreign ownership. He plans to act swiftly as president to block the transaction, which faces opposition from President Biden and a powerful U.S. labor union.
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