Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Israeli media, citing the occupation army: We tried to "eliminate" Hamas spokesperson Abu Obeida
Al-Mashat: I call on everyone worldwide to avoid dealing with any assets of the entity, and there is still an opportunity for settlers to return to their countries
Al-Mashat: A final warning to all companies in the occupation entity to leave before it’s too late
The Israeli occupation army carries out a deadly airstrike on a populated residential building in the densely populated al-Rimal neighborhood, west of Gaza City, resulting in dozens of fatalities and injuries: Al Mayadeen's correspondent
Al-Mashat: We say to Gaza, we stand firm regarding our stance, no matter the sacrifices
Al-Mashat: We will meet challenge with challenge, and you will no longer have any sense of security
Al-Mashat: We say to the Zionists, our revenge is unyielding, and dark days await you
Al-Mashat: We will take revenge, and we will come out victorious from the depths of our wounds
Al-Mashat: Our people are capable of overcoming all difficulties and challenges, and the enemy will not be able to break our steadfastness, nor will we be intimidated by raids or terrified by threats
President of the Yemeni Supreme Political Council Mahdi al-Mashat: The Government of Change and Building will carry out its duties in a caretaker capacity, and the blood of the martyrs will serve as a motivation for steadfastness and reconstruction

Panel reviewing Nippon Steel takeover of US Steel hits deadlock: FT

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Dec 2024 00:05
3 Min Read

Both Joe Biden and President-elect Donald Trump have slammed the proposed buyout, which is heavily opposed by American labor organizations.

Listen
  • x
  • Panel reviewing US-Japan steel deal hits impasse: report
    A slab of steel on a hot rolling mill at Nippon Steel's Kashima Plant in Kashima, Japan, on December 6, 2024 (AP)

A panel investigating whether Japan's Nippon Steel's takeover of US Steel would pose national security threats has hit a deadlock, Financial Times reported, raising the possibility that President Joe Biden may veto the $14.9 billion transaction.

The US Treasury informed both sides that the nine agencies that comprise the Committee on Foreign Investment in the United States (CFIUS), which analyzes such purchases, were unable to reach an agreement as the December 23 deadline for making a recommendation to Biden approaches, according to FT.

Biden, like President-elect Donald Trump, has slammed the proposed buyout, which is heavily opposed by American labor organizations.

US Steel is headquartered in Pennsylvania, and in September, the Biden administration informed the steelmaker that its $14.9 billion bid to acquire US Steel would threaten national security by weakening the American steel industry, according to three sources, signaling that the US is likely to block the deal.

Division among the CFIUS agencies would make it simpler for the president to reject the transaction, whereas the panel's unanimous approval would force Biden to find other reasons to oppose it.

Related News

Chicago mayor says no police aid for National Guard or federal agents

US bars Abbas, PA officials from UN summit, sparks EU backlash

The proposed acquisition of the historic US steelmaker was initially disclosed in December and was anticipated to be completed by this year's third quarter. According to the FT, anonymous US sources said the Treasury, Defense, and State departments all agreed that the sale presented no national security concern.

The "main opposition', it added, has come from US trade representative Katherine Tai, who, according to the sources, was unconvinced even by a draft from CFIUS outlining how Nippon Steel may act to alleviate worries.

Biden argues that the steel sector has a strategic role for the US, which is currently the world's largest steel importer. The United Steelworkers union strongly opposes the takeover, despite the Japanese group's vow not to slash employment or close any US Steel facilities for at least two years.

In a statement released Wednesday, Nippon Steel condemned the "inappropriate" involvement of politics in the decision-making process, adding that the agreement will "bolster American economic and national security by countering the threats posed by China."

According to the firm, the weight of politics on the "true national security interests" is "inappropriate", especially in light of Japan and the US' "indispensable alliance" as the foundation. 

A former CFIUS official told the Financial Times that if the trade representative helps stop the agreement, it would be "a huge geostrategic misstep," requiring the US "to put in writing that Japan is a national security threat, which is simply untrue and detrimental to American security."

  • United States
  • Nippon Steel
  • Japan
  • US Steel

Most Read

Fierce resistance ambushes target IOF in Gaza Strip

Fierce resistance ambushes target IOF in al-Zaytoun, Gaza City

  • Politics
  • 30 Aug 2025
Tom Barrack's imperial tantrum in Beirut: When entitlement speaks (Photo by Mahdi Rtail)

Tom Barrack's imperial tantrum in Beirut: When entitlement speaks

  • Politics
  • 26 Aug 2025
Although it does seem likely they will launch some kind of operation in northern Gaza, one which will accelerate its mass murder of civilians, but will fail to achieve its stated objectives. (Al Mayadeen English; Illustrated by Batoul Chamas)

Here is why the Israeli occupation of Gaza won’t work

  • Opinion
  • 26 Aug 2025
A scene showing an al-Qassam Brigades fighter during an ambush on July 7, 2025, in a video released by the al-Qassam Brigades on August 26, 2025 (al-Qassam Brigades Military Media)

Al-Qassam reveals Beit Hanoun ambush targeting Israeli forces

  • Politics
  • 26 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The martyred Prime Minister Ahmad Ghaleb al Rahawi, in an undated photo, Yemen (social media)
Politics

Yemen mourns Prime Minister, ministers killed in Israeli aggression

Israeli Prime Minister Benjamin Netanyahu, greets Argentina's President Javier Milei in the IsraelÙ‡ parliament, in al-Quds, Occupied Palestine, Wednesday, June 11, 2025 (AP)
Politics

Human rights lawyers seek Netanyahu's arrest in Argentina

Radiographer Coralie Gil prepares to enter the room of a COVID-19 patient in the COVID-19 continued care unit at the la Timone hospital in Marseille, southern France, Friday, Dec. 24, 2021 (AP)
Health

French hospitals urged by MoH to prepare for war by March 2026

US Demoratic senators demand baby formula be sent to Gaza
US & Canada

US senators demand 'massive surge' of baby formula for Gaza infants

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS