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Tel : 0086-0371-86172891
It is reported that former US A562 steel President Trump ordered the Committee on Foreign Investment in the United States (CFIUS) to initiate a re examination process on April 7th regarding Nippon Steel's proposed acquisition of US Steel.
Previously, the merger was officially blocked by former US President Biden on January 3, 2024, due to CFIUS failing to reach a consensus during a year long national security review. As the statutory body responsible for assessing the impact of foreign investment transactions on US national security, CFIUS' final recommendations will directly affect whether the President has the authority to intervene in related transactions. The Biden administration rejected the deal citing national security risks without obtaining CFIUS consensus.
Now, in his official statement, Trump said, "I instruct CFIUS to re-examine the deal between Nippon Steel and US Steel to assist me in determining whether further action is needed." According to the relevant procedures, CFIUS is required to submit the review results to the President within 45 days.
The merger became a hot topic during the 2024 US presidential election, with Trump, Biden, and former Vice President Harris publicly opposing the deal. Nippon Steel A562 steel and US Steel have filed multiple lawsuits against the Biden administration's blocking order, as well as accusations against Ohio steel giant Cleveland Cliffs for illegal interference in the failed transaction.
Several international trade experts believe that Biden's decision may have an impact on the credibility of US trade and the legitimacy of CFIUS, and are concerned that the agency's legal procedures may be subject to administrative intervention.
There is still significant uncertainty regarding the future direction of this case, especially in the context of the China US A562 steel game and the restructuring of the global manufacturing supply chain. The outcome may have a significant impact on the global steel industry landscape.
