Nippon Steel sent a new proposal in its bid to buy U.S. Steel, including giving the U.S. government a veto over any reduction in U.S. Steel’s “production capacity.”

President Joe Biden faces a critical decision on Nippon Steel’s $15 billion bid to acquire US Steel, a deal that has raised concerns over national security. The Committee on Foreign Investment in the United States (CFIUS) referred the matter to the President after failing to reach a consensus,

The Japanese company urged Biden to reflect on the steps it has taken to address national-security concerns.

Japan's Nippon Steel has proposed giving the U.S. government veto power over any potential cuts to U.S. Steel's production capacity, as part of its efforts to secure President Joe Biden's approval for acquiring the American steelmaker,

Nippon Steel is making a last-ditch attempt to win President Joe Biden's approval for its $14.9 billion acquisition of United States Steel Corp (BVMF:USSX34), offering the U.S. government veto power over any cuts to U.