Trump Orders CFIUS to Review Nippon Steel-US Steel Deal
President Donald Trump has ordered the Committee on Foreign Investment in the U.S. to carry out a 45-day review of Japan-based Nippon Steel Corp.’s proposal to purchase U.S. Steel, months after former President Joe Biden blocked the deal (see 2501060040).
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Trump said the CFIUS review will “assist me in determining whether further action in this matter may be appropriate.” He announced in February that Nippon Steel was abandoning its plan to purchase U.S. Steel and that the company was instead hoping to make a “big investment” in the American company (see 2502070060).
It’s unclear whether that’s still the plan. Trump’s April 7 order asks CFIUS to again examine whether Nippon Steel can propose measures to mitigate “any national security risks” related to the purchase. After the review, CFIUS will deliver its recommendation to the president with a “statement describing each [CFIUS] member agency’s position.”