Cfius是由美国财政部领导的跨部门政府小组，主要负责审查外国对美国的投资交易是否构成国家安全风险。1. On Wednesday, Masayuki Imai, the president of Japan Steel, stated that the company's plan to acquire United States Steel has received widespread support in the region where the steel mill is located; 2. Cfius submitted its final report to Biden on Monday afternoon, stating that it failed to reach a consensus on whether the trade posed any risks. This means that whether the trade will be approved will be entirely up to Biden, who will have 15 days to make a decision.
On December 25, local time Wednesday, Masayuki Imai, the president of Japan Steel, stated that the company's plan to acquire United States Steel has received widespread support in the region where the steel mill is located.
In December last year, Japan Steel announced plans to spend 14.9 billion USD to acquire United States Steel, a deal that faced strong opposition within the USA and was scrutinized by the Committee on Foreign Investment in the USA (Cfius).
Cfius is an interdepartmental government group led by the Department of Treasury, primarily responsible for reviewing whether foreign investments in the USA constitute a National Security risk.
In September this year, Cfius preliminarily determined that the trade posed irreducible National Security risks, but did not formally submit the investigation results to President Biden. Biden subsequently extended the review period by 90 days, with a deadline of December 23 (this past Monday).
Cfius submitted its final report to Biden on Monday afternoon, stating that it failed to reach a consensus on whether the trade posed any risks. This means that whether the trade will be approved will be entirely up to Biden, who will have 15 days to make a decision.
Nevertheless, according to media reports, Cfius informed Biden that approving this acquisition could lead to a decline in domestic steel production in the USA.
Masayuki Imai stated that Japan Steel has made several commitments to address the National Security issues raised by Cfius, adding that he believes "some progress has been made in understanding."
There is considerable support for this acquisition in the Communities where the steel mills are located,” said Masaru Imai. “I hope President Biden can understand the important value of this acquisition to the USA economy.
Japan Steel also wrote to Biden on Wednesday, urging him to approve this acquisition. The letter was co-signed by 24 local officials from the regions where United States Steel mills are located.
As early as March this year, Biden publicly opposed Japan Steel's acquisition of the United States Steel Company. He stated at the time that United States Steel must remain a company owned by the USA and operated domestically. The White House revealed that Biden's position has not changed to this day.
President-elect Trump has also stated that he would immediately block the transaction once he takes office in January.
The United Steelworkers Union (USW) also opposes Japan Steel's acquisition deal. They believe that Japan Steel has neither made sufficient commitments to ensure that unionized plants can continue to operate, nor promised to adhere to existing contractual terms.