Trump Revives Possible Sale Of U.S. Steel To Japan’s Nippon Steel

President Donald Trump has ordered a new review of the possible sale of U.S. Steel to Japan’s Nippon Steel, a deal previously blocked by former President Joe Biden.

Trump signed an executive action on Monday ordering his administration to take a new look at the deal and assess the risks the deal may pose to United States national security after U.S. Steel and Nippon Steel offered some changes to the deal. Trump’s order gives the U.S. Committee on Foreign Investment 45 days to submit a recommendation.

“I direct the Committee on Foreign Investment in the United States (CFIUS) to conduct a review of the acquisition of U.S. Steel by the Purchasers to assist me in determining whether further action in this matter may be appropriate,” the order says in part.

Biden blocked the proposed $14.9 billion deal in January, citing risks to United States supply chains. Trump also opposed the deal at the time and pledged to block it.

“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump wrote on Truth Social in December.

“Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!” he said.

Trump’s order to reopen discussions on the sale of U.S. Steel comes after the president spoke with Japanese Prime Minister Shigeru Ishiba in a Monday morning phone call over tariffs. The call between the two leaders took place as dozens of countries are attempting to negotiate with the White House to avoid wide-ranging tariffs announced by the president last week.

“Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate!” Trump posted on Truth Social on Monday morning. “They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other ‘things.’ It all has to change, but especially with CHINA!!!”

Trump appeared to soften his opposition to a deal between U.S. Steel and Nippon in February after a meeting with Shigeru. Trump said at the time he would be open to an investment in U.S. Steel from Nippon.

“I don’t want U.S. Steel being owned by a foreign country. All they can have is an investment,” Trump said at the time.