President Donald Trump is seeking a new review of Nippon Steel’s proposed purchase of U.S. Steel.
Former President Joe Biden blocked the sale in January on national security grounds.
Trump campaigned last year in opposition of the deal, saying a Japanese company’s acquisition of U.S. Steel would hurt American manufacturing. But shortly after becoming president, Trump said he’d reached an agreement for Nippon to instead invest in U.S. Steel, without providing details.
The directive signed Monday by Trump would give the Committee on Foreign Investment in the United States, CFIUS, 45 days to review the proposed purchase.
In December, CFIUS announced that it was unable to reach a consensus on the deal, leaving the decision to Biden.