Trump Orders Review Report Within 45 Days
Leaves Open Possibility of Overturning Former Biden Administration's Denial
U.S. President Donald Trump has ordered a review of the previous decision by former President Joe Biden to block Nippon Steel's acquisition of US Steel.
On the 7th (local time), President Trump instructed a security-related panel to review the issue of Nippon Steel's acquisition of US Steel and ordered them to submit a report within 45 days.
In response, Bloomberg News interpreted this as President Trump leaving open the possibility of revising former President Biden's decision to block Nippon Steel's acquisition of US Steel.
Earlier, in December 2023, Nippon Steel agreed to merge with US Steel and requested approval from the U.S. government, but former President Biden denied the request, stating it posed risks to national security and critical supply chains. In response, Nippon Steel and US Steel filed a lawsuit with the U.S. Federal Court of Appeals against the Committee on Foreign Investment in the United States (CFIUS), which reviewed the acquisition plan, seeking to overturn the denial order and request a reexamination.
During last year's presidential election campaign, President Trump expressed opposition to Nippon Steel's acquisition of US Steel.
Furthermore, at a press conference following a summit with Japanese Prime Minister Ishiba Shigeru on February 7, President Trump announced that Nippon Steel would not acquire US Steel but would make large-scale investments. In response, Japanese government spokesperson Chief Cabinet Secretary Hayashi Yoshimasa stated, "We are not viewing this as a simple purchase but are considering a bold investment that could create a win-win situation for both the U.S. and Japan, a completely different and bold proposal from before."
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