March 14, 2024

Joe Biden declares opposition to Nippon Steel’s takeover of U.S. Steel

Source: Financial Times

Journalists: Lauren Fedor, Demetri Sevastopulo

“Based on past practice, it is likely that Cfius would have been on track to clear the deal, likely with some conditions related to protection of domestic steel production and related jobs,” said Emily Kilcrease, a Cfius expert at the Center for a New American Security think-tank. “But, with the president's statement opposing the deal, Cfius is potentially in the uncomfortable position of having to reverse engineer their risk assessment to fit a politically determined outcome.”

Read the full story and more from Financial Times.

Authors

  • Emily Kilcrease

    Senior Fellow and Director, Energy, Economics and Security Program

    Emily Kilcrease is a Senior Fellow and Director of the Energy, Economics, and Security Program at CNAS. Her research focuses on the U.S.-China economic relationship; alignment...