Japan's Nippon Steel says a US government panel has decided to let President Joe Biden decide whether it can buy US Steel. Biden has repeatedly expressed his opposition to the deal.

The Committee on Foreign Investment in the United States has been examining the security risks of an acquisition by the Japanese company. The two major steelmakers agreed on the deal in December 2023.

The Japanese steelmaker has been notified by the committee that it was unable to reach a consensus by Monday's deadline.

Biden is expected to announce his decision within 15 days after receiving the committee's report.

US media say some committee members suggested domestic output could fall if US Steel were purchased. But other members reportedly said Nippon Steel had proposed measures including appointing US citizens to the majority of executive posts of US Steel.

However, the committee was apparently divided over whether such moves would be sufficient.

Nippon Steel says it strongly wants the president to weigh the merits of the deal.

It says both firms strongly believe that if the benefits are evaluated fairly, the deal will be approved.