Review of Proposed United States Steel Corporation Acquisition

President Biden issued a memorandum ordering the Committee on Foreign Investment in the United States (CFIUS) to conduct a thorough review of Nippon Steel's proposed acquisition of U.S. Steel.

This action, based on concerns about potential national security risks, mandates a de novo review by CFIUS, which must submit a recommendation within 45 days on whether proposed mitigation measures are sufficient.

The President's order builds upon a prior prohibition of the acquisition and reserves the right to take further action if deemed necessary.