Trump administration still reviewing Nippon-US Steel deal
WASHINGTON (Kyodo) -- U.S. President Donald Trump's administration on Thursday continued to review Nippon Steel Corp.'s proposals to acquire United States Steel Corp., taking the decision past the expected deadline.
It was earlier thought that Trump had until Thursday to decide whether to formally approve Nippon Steel's buyout plan. But Trump could now make a final decision by June 18, given that U.S. authorities in January extended to that date a deadline for the Japanese and U.S. steelmakers to abandon the plan.
The original 30-day deadline was extended as the two producers took legal action against former U.S. President Joe Biden's decision to block the sale of the struggling but iconic American producer to the Japanese company. Biden had cited national security concerns for his decision.
Trump, who also opposed the sale during the 2024 presidential race, ordered in April the Committee on Foreign Investment in the United States to conduct another review of Nippon Steel's proposed acquisition.
With the review now complete and its findings passed to the president, Trump apparently had until June 5 to determine his position under the 15-day presidential review period. Nippon Steel had also said this was case.
But U.S. Commerce Secretary Howard Lutnick suggested Thursday that talks are ongoing. Nippon Steel and the Trump administration on the same day also requested that a U.S. appeals court extend a pause in their lawsuit to nullify Biden's decision for eight days.
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