The Committee on Foreign Investment in the United States (CFIUS) was unable to reach a consensus on Japan's Nippon Steel's $15 billion acquisition of U.S. Steel. The very committee that is responsible for safeguarding the U.S. from compromising foreign investments doesn't recommend blocking the merger, and neither should President Joe Biden.
CFIUS is an interagency committee chaired by the secretary of the Treasury, whose membership comprises the heads of the Department of Homeland Security, Department of Defense, Department of State, Department of Justice, Department of Energy, Department of Commerce, as well as the Office of Science & Technology Policy and the Office of the U.S. Trade Representative. The heads of each of these federal agencies were nominated to their positions by Biden, are aware of his public opposition to the merger, and still cannot unanimously support the president's position on the matter.
