Trump Hints He May Allow Sale of U.S. Steel to Nippon Steel

The Trump administration has filed a motion to extend two deadlines in U.S. Steel and Nippon Steel’s lawsuit against a U.S. national security panel, giving the government more time to finalize merger discussions with the companies, Reuters reported.

In January, U.S. Steel and Nippon Steel sued the Committee on Foreign Investment in the United States (CFIUS). I Photo: United States Steel Corporation Facebook

The filing provides the clearest indication yet that President Donald Trump may permit the deal—previously blocked by his predecessor Joe Biden—to move forward in some form.

In January, U.S. Steel and Nippon Steel sued the Committee on Foreign Investment in the United States (CFIUS), which reviews foreign investments for national security risks, after it recommended rejecting their merger on security grounds.

Last week, the Department of Justice (DOJ) requested a 21-day extension on briefing deadlines in the CFIUS lawsuit and proposed rescheduling oral arguments from April 24 to the week of May 12.

“The requested extension will allow the government to complete its ongoing discussions with the parties regarding the U.S. Steel and Nippon Steel transaction, with the goal of eliminating the need for this Court’s resolution of the litigation on the merits,” the DOJ said in its filing.

In February, Trump stated that he would not oppose Nippon Steel taking a minority stake in U.S. Steel, CNN also reported.