Nippon/U.S. Steel Would Enhance Nat'l Security

Reports are leaking out of Washington that President Biden is prepared to intervene in Nippon Steel’s $15 billion capital investment in U.S. Steel. The Committee on Foreign Investment in the United States, or CFIUS, chaired by Treasury Secretary Yellen, is said to have somehow raised national security concerns, as the proposed acquisition has become a political issue in a key battleground state and as Vice President Harris announced her opposition to the deal.