US Steel takeover deal by Japan’s Nippon Steel hangs in the balance as President Trump fails to provide a clear decision on its status. The 15-day deadline for Trump to approve or block the deal has passed, but it remains uncertain due to the unconventional approach taken by the Committee on Foreign Investment in the United States (CFIUS). CFIUS provided Trump with information and analysis instead of a traditional recommendation, rendering the deadline moot.
The US Steel merger is set to close on June 18, and its fate now rests on Trump’s decision. The President has expressed opposition to the deal since its announcement, and his fixation on signing deals with large foreign direct investment commitments may have given Nippon some last-minute leverage. A final approval or rejection of the deal from Trump is still pending, prolonging a 16-month saga that has involved lawsuits, union dissension, and geopolitical tensions.
Source: https://www.axios.com/2025/06/06/trump-us-steel-decision-nippon