WASHINGTON, Jan 2 (Reuters) - U.S. President Joe Biden
has decided to officially block Nippon Steel's ( NISTF ) proposed
purchase of U.S. Steel, the Washington Post reported,
citing two administration officials who were not authorized to
speak publicly about the matter.
The Committee on Foreign Investment in the United States
(CFIUS) had previously referred the decision to approve or block
the deal to Biden, who will leave office on Jan. 20.
Biden's call to block the deal was taken despite contrary
efforts by some of his senior advisers over concerns that it
could damage U.S.- Japan relations, the report said.
A White House spokesperson declined to comment on the
report. A source told Reuters a decision by Biden was expected
as soon as Friday. A spokesperson for Nippon Steel ( NISTF ) declined to
comment on the report.
U.S. Steel directed Reuters to a statement shared earlier on
Thursday that said it hoped "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."