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3mo ago

Trump Receives CFIUS Recommendation on Nippon Steel's $14.9 Billion U.S. Steel Bid

The decision, due within 15 days, follows Nippon Steel's $14 billion investment proposal and a prior national security block under Biden.

Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024. REUTERS/Issei Kato/File Photo
The logos of Nippon Steel Corp. are didplayed at the company headquarters in Tokyo, Japan March 18, 2019. Picture taken March 18, 2019. REUTERS/Yuka Obayashi
Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan, April 1, 2024. REUTERS/Issei Kato/File Photo
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Overview

  • A U.S. national security panel has submitted its recommendation to President Trump regarding Nippon Steel's $14.9 billion bid for U.S. Steel.
  • The recommendation complies with Trump's April executive order requiring CFIUS to reassess the deal and outline agency positions on national security risks.
  • Nippon Steel has proposed a $14 billion investment plan, including up to $4 billion for a new mill, to address concerns and modernize U.S. Steel facilities.
  • The Biden administration previously blocked the deal in January on national security grounds, leading to ongoing legal challenges from Nippon Steel and U.S. Steel.
  • President Trump has up to 15 days to decide the fate of the bid, though delays are possible, with significant implications for U.S.-Japan economic relations.