USW: Report about Nippon deal now in President Biden’s hands

The United Steelworkers provided an update on Tuesday morning about the proposed deal between Nippon Steel and U.S. Steel.

According to the union, the Committee on Foreign Investment in the United States, CFIUS, provided its findings to President Biden.

And the committee was unable to reach an unanimous decision on how to move forward.

But the Washington Post reported that the committee said that allowing Nippon, which is Japanese, to purchase U.S. Steel could lead to a reduction in domestic steel output, which would represent a national security risk.

The president now has 15 days to review the report and accept or reject the transaction. He has said he intends to keep U.S. Steel an American company.

The union said they met twice with Nippon last week, and remain unconvinced it will be good for their members.

Some steelworkers have rallied in support of the deal in recent weeks.

A year ago, U.S. Steel and Nippon announced the proposed merger.