A U.S. national security panel (CFIUS) has submitted its recommendation to Trump on Nippon Steel’s $14.9 billion bid for U.S. Steel, though the content remains undisclosed.
Reuters with the info.
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Trump’s April executive order required CFIUS to assess whether proposed company measures address previously identified national security risks.
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Trump now has 15 days to make a final decision on the deal, though the deadline may be extended.
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The Treasury Department (which leads CFIUS) and the companies involved have not yet commented.
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Biden previously blocked the deal in January, citing national security concerns; the companies have since sued, claiming the review process was unfair—an assertion the Biden administration denies.
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In a bid to address concerns, Nippon Steel has proposed a $14 billion U.S. investment, including $4 billion for a new steel mill, if the deal is approved.
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The executive order also mandates that each CFIUS member agency submit a formal statement explaining its position and rationale.
This article was written by Eamonn Sheridan at www.forexlive.com.
