March 14, 2024


Washington, D.C. - Responding to the Biden Administration objecting to the sale of U.S. Steel Corporation to Nippon Steel Corporation (NSC), U.S. Chamber Senior Vice President and Head of International John Murphy issued the following statement:

“Attempts to politicize the objective Committee on Foreign Investment in the United States (CFIUS) review of NSC’s acquisition of U.S. Steel are both inappropriate and counterproductive. That review will surely support the transaction given Japan’s status as one of America’s most important and reliable allies. Japanese investment in the U.S. supports nearly one million American jobs, and officials must be careful not to send a chilling signal to international companies that U.S. politics may put their job-creating investments in the U.S. at risk. For these reasons, it’s imperative that the CFIUS review proceed; and if, as expected, it reveals no national security concerns, the sale should proceed.”