Trade Cases
CFIUS completes Nippon/USS review, but outcome unknown: Report
Written by Ethan Bernard
May 22, 2025
The Committee on Foreign Investment in the United States (CFIUS) has submitted its decision to President Trump on Nippon Steel’s proposed buy of Pittsburgh-based U.S. Steel, according to a report in Reuters.
However, the contents of the review are as yet unknown, the article stated.
The president will have 15 days to decide the outcome of the deal, although the report pointed out that timeline could be pushed out.
Recall that Trump ordered another CFIUS review last month after the first one resulted in a split decision in December. Then-President Biden subsequently blocked the deal.
Trump has signaled that he is against foreign ownership of U.S. Steel, but Nippon has recently sweetened the deal.
Requests for comment from the US Treasury Department, USS, and Nippon were not returned by time of publication.
Ethan Bernard
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