Nippon Steel's China Assets Pose Hurdle To U.S. Steel Deal

The Biden administration is scrutinizing Nippon Steel's ties to China, potentially complicating its proposed acquisition of US Steel, as reported by Josh Wingrove and Joe Deaux for Bloomberg.

The Biden administration is wary of Nippon Steel's significant presence in China. I Photo: United States Steel

Concerned about protecting US industry, the Biden administration is wary of Nippon Steel's significant presence in China. With nine facilities in the country, Nippon Steel's acquisition of US Steel could raise concerns about increased access to US markets for Chinese-sourced steel.

This scrutiny comes amidst ongoing tensions between the US and China over trade, with tariffs remaining in place on Chinese goods.

The acquisition, which has already sparked political debate in the US, is undergoing review by the Committee on Foreign Investment in the US (CFIUS).

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