WP reported on Nippon Steel's new offer to Biden to buy U.S. Steel

Japanese company Nippon Steel has made a new offer to U .S. President Joe Biden to buy U.S. steel company U.S. Steel. The Washington Post reported on December 31.

"The proposal is aimed at appeasing the Committee on Foreign Investment in the United States (CFIUS), which warned last week that Nippon Steel's takeover of U.S. Steel for $14.9 billion could lead to a decline in domestic steel production," the newspaper said.

It is specified that the discussion of this issue is actively continuing in the White House. Biden is of the opinion that the proposal is "bad for workers" and creates "risks to U.S. national security".

The Japanese company offers conditions, thanks to which, the American authorities will actually be able to prohibit absolutely any attempts to reduce production capacity in the United States.

The incumbent president could make a final decision on the issue by January 7.

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Earlier, on December 2, U .S. President-elect Donald Trump said that after his inauguration he intends to block the deal on the sale of the steel company U.S. Steel to Japanese Nippon Steel. Also, Trump promised to return this enterprise lost positions.

Nippon Steel announced its intention to acquire U.S. Steel last December and planned to finalize the deal in the second or third quarter of 2024. The owners of Nippon Steel also expressed their willingness to pay the debts of the U.S. company amounting to about $742 million, as well as to retain the brand and production facilities in the United States.