1 of 3 | President Donald Trump issued an executive order, officially giving the green light Nippon Steel Corporation’s multi-billion-dollar purchase of U.S. Steel Corporation. File Photo by Archie Carpenter/UPI | License Photo
June 14 (UPI) -- President Donald Trump issued an executive order on Friday officially giving the green light to Nippon Steel Corporation's multi-billion-dollar purchase of U.S. Steel Corporation.
Trump's executive order rescinds a directive issued by former President Joe Biden that blocked the Tokyo-based steel producer's $14.9 billion purchase on national security grounds.
The president had been signaling he would approve such a move, stating in May that the two steel giants would form a "planned partnership."
Trump previously ordered a review of the transaction by the Committee on Foreign Investment in the United States.
