The Committee on Foreign Investment in the United States referred Nippon Steel's proposed acquisition of U.S. Steel to the President without a consensus recommendation, giving him 15 days to decide. Nippon Steel pushed its expected closing from the second half of 2024 to the first quarter of 2025 and urged a fair, fact-based review. What happened next On January 3, 2025, Biden blocked the deal by order. Nippon Steel and U.S. Steel sued three days later, challenging how the review was run, and also sued Cleveland-Cliffs and the steelworkers union's president. The deal was later reopened under President Trump.
