Features

CFIUS panel returns mixed decision on Nippon/USS deal: Report

Written by Ethan Bernard

May 23, 2025

The Committee on Foreign Investment in the United States (CFIUS) was divided in its opinion on Nippon Steel’s proposed acquisition of U.S. Steel, according to a report in Reuters.

But most of the panel reviewing the deal thought national security risks regarding the deal could be “addressed,” the article said.

Recall that Reuters posted an article on Thursday reporting that CFIUS had submitted its review to President Trump – but that the outcome was unknown.

Later on Thursday, the news agency reported that the decision was split, citing an anonymous White House official.

On the decision and the question of any national security risks, the official said the panel was “not unanimous in their recommendation, but the majority believe any risks can likely be addressed through mitigation.”

Following the CFIUS report, President Trump has 15 days to render a verdict on the deal, though the previous Reuters article noted that timeline could “slip.”

Nippon declined to comment on the matter. Requests for comment from USS and the Treasury Department were not returned by time of publication.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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