Nippon Steel Executive Travels to Washington in Final Effort to Save US Steel Deal, Reports FT via Reuters

Japanese steelmaker Nippon Steel’s vice-chairman is scheduled to meet with high-ranking U.S. officials in Washington on Wednesday in an effort to salvage its proposed $14.9 billion acquisition of U.S. Steel, according to a report from the Financial Times.

Takahiro Mori will engage with several deputy cabinet secretaries who are part of the Committee on Foreign Investment in the U.S. (CFIUS), as per sources familiar with the matter.

Nippon Steel, along with representatives from the White House and the U.S. Treasury Department, has not yet responded to requests for comments.

CFIUS has expressed concerns over the merger, stating that it poses national security risks due to potential impacts on the steel supply critical for transportation, construction, and agriculture projects.

Vice President Kamala Harris has indicated her desire for U.S. Steel to remain “American-owned and operated.” On the other hand, her Republican opponent, Donald Trump, has vowed to oppose the deal if he assumes office.