President Biden Issues Order Blocking the Proposed Acquisition of United States Steel Corporation by Nippon Steel Corporation, and The Parties Sue for a New Review

On January 3, 2025, President Biden issued an executive order (the “Order”) prohibiting the proposed acquisition of United States Steel Corporation (“U.S. Steel”) by Japan-based Nippon Steel Corporation (“Nippon Steel”) on the basis that the transaction could threaten to impair the national security of the United States (the “Order”). 

The Committee on Foreign Investment in the United States (“CFIUS”) referred the transaction to the President on December 23, 2024.

Continue reading on the Cleary Foreign Investment and International Trade Watch blog.