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Fate of US Steel merger expected to be pushed beyond election day as politics cloud outlook

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As presidential politics cloud the outlook of US Steel’s merger with its Japanese rival, a national security review of the deal is now not expected to be decided until after the election, according to people familiar with the matter.

The Committee on Foreign Investment in the United States, which evaluates the national security risks posed by deals with foreign entities, is expected to deliver its recommendation to the White House after November 5, these people said. That timeline is meant to ensure that any recommendation is made outside the pressure cooker of an election cycle, in which all political parties have come out against the deal.

“Unfortunately, there have been persistent attempts recently to politicize the committee’s work from across the political spectrum, allowing politics to undermine the clear and narrow statutory mandate of national security,” the business groups wrote in the letter. “America’s investment climate will be severely tarnished if such political interference prevails.

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