President Biden's economic advisors have indicated a focus on protecting union jobs and domestic manufacturing in the U.S. steel industry amid the proposed acquisition of United States Steel Corporation (NYSE:X) by Nippon Steel Corporation (OTC:NPSCY). The $14.1 billion deal, which would create the world's second-largest steel company, is under review by the Committee on Foreign Investment in the United States (CFIUS). Statements from Biden's advisors suggest that Nippon Steel may need to increase support for organized labor to secure deal approval. The deal's outcome is politically sensitive in an election year, with implications for Biden's reelection campaign. Despite commitments to honor agreements with the United Steelworkers union, there are objections to the deal, and Pennsylvania senators have called for its halt to protect jobs. The CFIUS, led by Treasury Secretary Janet Yellen, can approve, modify, or reject the deal, which is expected to close in the second or third quarter, although insiders suggest it could take a year.