Trump Orders Review of Nippon-U.S. Steel Deal

President Donald Trump has ordered a new national security review by the Committee on Foreign Investment in the United States (CFIUS) regarding Nippon Steel's proposed acquisition of U.S. Steel, reversing the block initiated by former President Joe Biden. The review aims to assess if the deal poses any national security risks and requires recommendations within 45 days. U.S. Steel's shares surged following the announcement, indicating investor optimism about the potential for the deal to proceed. The acquisition, initially valued at nearly $15 billion, has been contentious, with political implications due to its impact on the steel industry and labor agreements. While Biden had blocked the deal over national security concerns, Trump's order suggests a possible reconsideration, potentially reshaping the American steel industry. Local leaders, such as Gary Mayor Eddie Melton, have expressed support for the deal, citing potential economic benefits for steelworkers and communities.