Steel Mills

Trump orders new CFIUS review for USS
Written by Ethan Bernard
April 7, 2025
President Trump has ordered a new review of Nippon Steel’s proposed buy of U.S. Steel. It is to be completed within 45 days.
The president on Monday ordered the Committee on Foreign Investment in the United States (CFIUS) to re-examine the potential acquisition of U.S. Steel “to assist me in determining whether further action in this matter may be appropriate,” according to a memorandum released by the White House.
Recall that CFIUS arrived at a split decision in December. President Biden then blocked the deal. But the Biden administration subsequently moved back the date to unwind the deal until June.
“We are pleased that President Trump has ordered a new CFIUS review of our transaction,” a spokesman for Nippon told SMU on Monday.
“We look forward to a timely resolution, so that we can begin making our planned investments that will position U.S. Steel to be a leading global steel producer, providing the highest quality products to American customers and reinforcing the American manufacturing industry,” he added.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills

Despite trade chaos, Barry Schneider upbeat on SDI, steel
With 30 years of experience at Steel Dynamics, Barry Schneider reflects on the company and the state of the steel industry.

Algoma Steel seeks CAD$500M in operational support
Algoma Steel applied to Canada’s federal Large Enterprise Tariff Loan (LETL) program for $500 million to support its long-term operations.

SDI concerned with potential Brazil pig iron tariffs
Steel Dynamics Inc. (SDI) executives called a 50% tariff on Brazilian pig iron “concerning,” but think tariffs will be a “mainstay” of trade agreements going forward.

SDI earnings slip in Q2 as trade volatility hits customer orders
SDI profits slipped in second quarter amid trade policy volatility.

Cliffs puts ‘for sale’ signs up after another big quarterly loss
Cleveland-Cliffs lost more than $400 million for the third consecutive quarter but predicted results would improve in the second half of the year. And shares of the Cleveland-based steelmaker surged after company executives said during its Q2 earnings call on Monday that they could make billions by courting foreign investors or selling assets.