Review of Proposed United States Steel Corporation Acquisition

On January 3, 2025, President Biden blocked the acquisition of United States Steel Corporation by Nippon Steel Corporation and its affiliates, citing potential national security concerns. He directed the Committee on Foreign Investment in the United States (CFIUS) to conduct a thorough review of the transaction to assess any risks and determine if additional actions are necessary. This decision underscores the administration's focus on safeguarding national security, and it could have significant implications for foreign investments in U.S. industries, potentially affecting trade relations and economic dynamics.