Biden believes U.S. Steel sale to Japanese company warrants ‘serious scrutiny,’ White House says

By ZEKE MILLER and FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The White House says President Joe Biden believes “serious scrutiny” is warranted for the planned acquisition of U.S. Steel by Japan’s Nippon Steel. The transaction has drawn alarm from the steelworkers union and others. Lael Brainard, the director of the National Economic Council, said in a statement that Biden believes a close look at the deal is necessary, even for a close ally. That’s important, she said, in terms of its potential impact on national security and supply chain reliability. She indicated that the deal would be reviewed by the secretive Committee on Foreign Investment in the United States, which includes economic and national security agency representatives.