Treasury panel can't agree on proposed Nippon, US Steel deal, leaving decision to Biden

President Joe Biden is expected to make a decision on Nippon Steel of Japan proposing to buy U.S. Steel for about $15 billion after a goverment panel earlier this week failed to make a decision. 

Last year, Nippon reached an agreement to purchase U.S. Steel. CEO David B. Burritt said that the purchase would make the steel industry stronger. But others have raised concerns about about security and allowing China, who has the world's second-largest economy after the U.S., to become economically powerful. 

Biden has so far opposed the deal. 

On Monday, the Treasury Department's Committee on Foreign Investment in the United States failed to come to a conclusion about whether the deal will cause problems for national security. 

Biden will have 15 days to make a final decision, according to CBS News.

If the deal goes through, U.S. Steel will be a subsidiary of the Nippon Steel Corporation, but it would keep its name and the headquarters would still be in Pittsburgh, Pennsylvania. 

President-elect Donald Trump has also come out against the deal and said he would "block this deal from happening."