CBC has learned of Biden's intention to rule on the sale of U.S. Steel on Jan. 3

U .S. President Joe Biden on Friday, January 3, will announce his decision on the purchase of U.S. steelmaker U.S. Steel by Japanese company Nippon Steel. This was reported by CBC News on January 2.

"President Biden is likely to announce a decision as early as Friday on whether he will approve the acquisition of Nippon Steel by U.S. Steel for $14.9 billion," reads the TV channel's material.

It is specified that the head of the White House held many "extensive discussions" on the issue. In turn, the company U. S. Steel is likely to file lawsuits in case Biden blocks the purchase.

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Earlier, on December 31, the Japanese company Nippon Steel made a new offer to Joe Biden to buy U.S. Steel. 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".

On December 2, U.S. President-elect Donald Trump announced that after his inauguration he intends to block the deal to sell the steel company U.S. Steel to Japan's 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.