Key Facts
• June 13, 2025: President Trump signed an executive order revising a prior ban.
• Nippon Steel plans to acquire US Steel under specific conditions.
• The US government requires a National Security Agreement for approval.
• The agreement aims to mitigate threats to US national security.
• A draft agreement was presented to both companies on June 13, 2025.
Summary
President Trump has conditionally approved Nippon Steel’s acquisition of US Steel, reversing a ban issued in January 2025 by then-President Biden. The approval is contingent upon the companies signing a National Security Agreement with the US government to address potential threats to national security. While the specific terms of the agreement remain undisclosed, a draft was presented to both parties on June 13, 2025. This decision reflects the administration’s confidence that the agreement will sufficiently mitigate security concerns.
