Biden Orders National Security Review of U.S. Steel Acquisition | JQJO

President Biden ordered a review of Nippon Steel's proposed acquisition of U.S. Steel, citing national security concerns. The Committee on Foreign Investment in the United States (CFIUS) will conduct a de novo review within 45 days, assessing potential risks and considering mitigation measures proposed by involved parties. CFIUS will then recommend to the President whether further action is necessary to protect national security. This follows an earlier presidential order prohibiting the acquisition.