President Trump has ordered a new national security review of Nippon Steel’s proposed $14 billion acquisition of U.S. Steel, reviving a high-profile deal that had been blocked earlier this year by former President Joe Biden.
The White House announced Monday that the Committee on Foreign Investment in the United States (CFIUS) will reassess the transaction to determine whether it poses a threat to national security. The move grants the administration the flexibility to negotiate terms that could enable the completion of the deal, which would bring the storied American steelmaker under Japanese ownership.
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