Yellen Withholds Comments on Steel Deal Blockage

U.S. Treasury Secretary Janet Yellen refrained from commenting on the possible blocking of the U.S. Steel-Nippon Steel deal by the Biden administration. During her address in North Carolina, she emphasized that the United States closely considers national security implications when evaluating foreign direct investments.

U.S. Treasury Secretary Janet Yellen on Thursday chose not to comment on speculations that the Biden administration might block the proposed U.S. Steel-Nippon Steel deal. Speaking to reporters in North Carolina, Yellen reaffirmed that the U.S. remains open to foreign direct investment.

However, she emphasized the importance of a rigorous process to assess the national security aspects of such transactions. Yellen reiterated that this careful scrutiny is an integral part of the country's investment policies.

Her remarks come amid growing concerns about maintaining national security in the face of increasing foreign investments.

(With inputs from agencies.)