Trump orders new review of U.S. Steel's sale to Nippon Steel

President Trump on Monday ordered a new review of the bid by Japan's Nippon Steel to buy U.S. Steel.

Trump ordered the Committee on Foreign Investment in the United States, or CFIUS, to look at the deal again. The interagency committee failed to reach a consensus last year and left the decision up to former President Biden, who ultimately blocked the merger, saying he wanted to protect the nation's security and infrastructure, as well as supply chain resiliency. 

CFIUS reviews transactions involving foreign investment in the United States to see how they would impact the nation's security. According to the memorandum, Mr. Trump wants a recommendation from CFIUS in 45 days.