President Trump signed a memorandum directing the Committee on Foreign Investment in the United States to review Nippon Steel's proposed takeover of U.S. Steel again from scratch. President Biden had prohibited the deal by order on January 3, 2025. CFIUS was given 45 days to say whether the mitigation measures the companies proposed would resolve its national security concerns. What the memo asked The review was to be confidential and to give the companies a fair chance to answer any security concerns. CFIUS had to send its recommendation by about May 22, 2025, including each member agency's position and reasons. How it ended Trump approved the deal by executive order on June 13, 2025, with a national security agreement that gave the US government a 'golden share' with veto rights over some major decisions, such as moving the headquarters. Nippon Steel committed about $11 billion in new investment by 2028.
