President Donald Trump has ordered a new review of the possible sale of U.S. Steel to Japan’s Nippon Steel, a deal previously blocked by former President Joe Biden.
Trump signed an executive action on Monday ordering his administration to take a new look at the deal and assess the risks the deal may pose to United States national security after U.S. Steel and Nippon Steel offered some changes to the deal. Trump’s order gives the U.S. Committee on Foreign Investment 45 days to submit a recommendation.
“I direct the Committee on Foreign Investment in the United States (CFIUS) to conduct a review of the acquisition of U.S. Steel by the Purchasers to assist me in determining whether further action in this matter may be appropriate,” the order says in part.
Biden blocked the proposed $14.9 billion deal in January, citing risks to United States supply chains. Trump also opposed the…
