Trump orders new review of U.S. Steel acquisition by Japan’s Nippon Steel

Trump orders new review of U.S. Steel acquisition by Japan’s Nippon Steel


A tugboat pushes a barge near the U.S. Steel Corp. Clairton Coke Works facility in Clairton, Pennsylvania, on Sept. 9, 2024.

Justin Merriman | Bloomberg | Getty Images

President Donald Trump on Monday ordered the proposed acquisition of U.S. Steel by Japan’s Nippon Steel to undergo a new review after the deal was blocked by President Joe Biden.

Trump directed the Committee on Foreign Investment in the United States to review the acquisition again to assist “in determining whether further action in this matter may be appropriate,” according to a presidential action issued by the White House on Monday.

U.S. Steel stock spiked more than 16% in reaction to the decision, closing at $44.49 per share.

Trump gave the committee 45 days to submit a recommendation on whether measures suggested by U.S. Steel and Nippon “are sufficient to mitigate any national security risks.”

Biden blocked the $14.9 billion deal in January, citing a potential threat to critical supply chains posed by one of the largest steel producers in the U.S. coming under foreign control.

Trump has also opposed the deal, but the president appeared to soften his position in February during a meeting with Japanese Prime Minister Shigeru Ishiba. Trump said at the time that Nippon would invest heavily in U.S. Steel rather than purchase the company.

Get Your Ticket to Pro LIVE

Join us at the New York Stock Exchange!

Uncertain markets? Gain an edge with CNBC Pro LIVE, an exclusive, inaugural event at the historic New York Stock Exchange.

In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12.

Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles, and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!

Don’t miss these insights from CNBC PRO



Source

India to maintain Russian oil imports despite Trump threats, government sources say
World

India to maintain Russian oil imports despite Trump threats, government sources say

Russia’s President Vladimir Putin (R) speaks with India’s Prime Minister Narendra Modi (L) during a visit to the shipyard Zvezda, as Rosneft Russian oil giant chief Igor Sechin (C) accompanies them, outside the far-eastern Russian port of Vladivostok on September 4, 2019, ahead of the start of the Eastern Economic Forum hosted by Russia.  Alexander […]

Read More
U.S. envoy tells Israeli hostage families he is working on plan to end Gaza War
World

U.S. envoy tells Israeli hostage families he is working on plan to end Gaza War

U.S. envoy Steve Witkoff (L) arrives to meet families of Israelis held hostage by Palestinian militants in the Gaza Strip since October 2023 as they demonstrate in Tel Aviv’s ‘Hostage’ square on August 2, 2025. Witkoff met the anguished families as fears for the captives’ survival mounted almost 22 months into the war. – | […]

Read More
How Florida quietly surpassed California in solar growth
World

How Florida quietly surpassed California in solar growth

Solar energy is booming across the U.S. and, for the first time, Florida is catching up to industry powerhouses Texas and California. Despite removing climate change from its official state policy in 2024, Florida added more utility-scale solar than California last year, with over 3 gigawatts of new capacity coming online.  “This is not a […]

Read More