On January 3, 2025, President Biden blocked the acquisition, citing national security concerns and emphasizing the need for a strong domestic steel industry.

Both Biden and former President Donald Trump have opposed the acquisition, aiming to secure support from union voters during their election campaigns.

Nippon Steel views the acquisition as a lifeline for a struggling industrial sector, while both companies believe it will secure a better future for the US steel industry.

In their joint statement, the companies expressed optimism about completing the transaction, emphasizing its potential benefits for the American steel industry and stakeholders.

CFIUS, chaired by Treasury Secretary Janet Yellen, typically assesses foreign acquisitions for national security risks, but could not reach a consensus on this case.

The Biden administration has delayed an order for Nippon Steel to abandon its $14.9 billion bid for US Steel, extending the deadline to June 18, 2025.

Japanese Foreign Minister Takeshi Iwaya expressed regret over Biden's decision, urging the US to address concerns from the business community.

The June 18 expiration date marks the end of the current acquisition contract between Nippon Steel and US Steel.

The extension provides nearly five additional months compared to the original timeframe set by US authorities.

This extension was granted by the Committee on Foreign Investment in the United States (CFIUS) as part of the requirements outlined in Biden's Executive Order.

The delay allows courts to review a legal challenge filed by US Steel and Nippon Steel against Biden's order, which initially required a 30-day period to unwind the transaction.

Both companies filed a lawsuit on January 6, 2025, claiming that the CFIUS review was biased due to Biden's prior opposition, seeking a fair review to potentially close the merger.