Steel Deal Hang-Up: Trump's Role in U. S. Steel-Nippon Takeover

President-elect Donald Trump's recent comments on international investments might give hope to U. S. Steel and Japan's Nippon Steel. The proposed takeover of U. S. Steel by Nippon Steel has been a hot topic, with President Joe Biden blocking the sale last week, citing national security concerns. Experts believe Trump could potentially reverse Biden's decision, given his history of changing stances on issues. U. S. Steel's CEO, David Burritt, has already appealed to Trump, asking for his help to "make U. S. Steel great again. " However, whether Trump can legally undo Biden's move is uncertain and depends on the outcomes of two lawsuits filed by U. S. Steel and Nippon Steel. These lawsuits allege that the Biden administration conducted a biased national security review and that labor unions and rival companies colluded to sink the deal.The lawsuits aim to require another national security review and seek other forms of restitution. Similar lawsuits have been filed before, with one resulting in a ruling known as the "Ralls Ruling, " which established foreign companies' right to due process during national security reviews. Meanwhile, another potential buyer, Cleveland-Cliffs, has expressed interest in acquiring U. S. Steel's assets. However, analysts doubt Cleveland-Cliffs' ability to make a realistic offer comparable to Nippon Steel's. If Cleveland-Cliffs does come forward, the deal would likely face an antitrust review by the Justice Department.