WASHINGTON, Jan 2 (Reuters) - U.S. President Joe Biden

is likely to announce a decision as soon as Friday on whether he

will approve Nippon Steel's ( NISTF ) acquisition of U.S. Steel

, CBS News reported late on Thursday, citing people

familiar with the process.

The Committee on Foreign Investment in the United States

(CFIUS) recently referred the decision to approve or block the

deal to Biden, who will leave office on Jan. 20.

The White House did not immediately respond to a request for

comment late on Thursday. Japan's Nippon Steel ( NISTF ) declined to

comment.

U.S. Steel said in a statement that the company hopes "Biden

will do the right thing and adhere to the law by approving a

transaction that so clearly enhances U.S. national and economic

security."

In 2023, Nippon clinched the deal to buy U.S. Steel at a

hefty premium, but the merger has since faced opposition from

the powerful United Steelworkers union as well as politicians.

If Biden takes no action, it would result in the

merger's automatic approval.

A source familiar with the matter said earlier this week

that Nippon Steel ( NISTF ) proposed giving the U.S. government veto power

over any potential cuts to U.S. Steel's production capacity, as

part of its effort to secure Biden's approval for acquiring the

American steelmaker.

Biden has said he wants U.S. Steel to be domestically

owned and operated, while President-elect Donald Trump has vowed

to block the deal after he takes office in January.