U.S. Steel CEO David Burritt on Tuesday defended the company's planned sale to Japan's Nippon Steel, expressing confidence that the deal will "close on its merits" despite President Joe Biden's vocal opposition. "We strongly believe the deal closes on its merits," Burritt said in an interview on CNBC's "Money Movers." "It strengthens national security, it strengthens economic security and it strengthens job security." CFIUS told Nippon that the sale could "lead to a reduction in domestic steel production capacity," according to a letter obtained by Reuters earlier this month. The committee said supply chains could be disrupted in sectors critical to national security such as transportation, infrastructure, construction and agriculture.

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Persons: David Burritt, Joe Biden's, Burritt, Biden, Kamala Harris, Donald Trump, CFIUS Organizations: . Steel, Japan's Nippon Steel, Steel, NBC News, Nippon, U.S, Foreign Investment, Reuters Locations: American, Nippon North America, U.S, United States