On January 3, 2025, President Biden issued an order prohibiting Nippon Steel Corporation and related entities from acquiring United States Steel Corporation (U.S. Steel). The order reserves the right for further actions to protect U.S. national security. Pursuant to this, the Committee on Foreign Investment in the United States (CFIUS) has been directed to conduct a de novo review of the acquisition. This review will assess potential national security risks and provide the parties involved with an opportunity to address concerns. Within 45 days, CFIUS will submit a recommendation to the President detailing whether proposed measures sufficiently mitigate identified risks. This memorandum ensures adherence to applicable laws and does not create enforceable rights. — new from The White House (.gov)
