Growing bipartisan opposition to US Steel purchase by Japanese might not be enough to block deal

Bipartisan opposition is growing to the proposed $14.1 billion acquisition of US Steel by Japan’s largest steelmaker, but that is unlikely to be enough to block the purchase, according to an expert in foreign investment deals.

A trio of Republican senators Tuesday called for a panel of US officials to block Nippon Steel’s takeover of US Steel due to national security concerns.

Sens. JD Vance, Josh Hawley and Marco Rubio wrote Treasury Secretary Janet Yellen a letter on Tuesday warning the US Steel deal has “dire implications for the industrial base of the United States” and “was not entered into with US national security in mind.”