US asks for 60-day pause in Nippon Steel suit

The administration of US President Donald Trump has requested a 60-day pause until June 5 in a lawsuit filed by Nippon Steel Corp. against the US government over the Japanese company's plan to acquire United States Steel Corp., according to people familiar with the matter, who spoke on Tuesday.

The move came after Trump on Monday ordered a new national security review by the Committee on Foreign Investment in the United States of the 14-billion-dollar deal.

CFIUS was given 45 days to submit a recommendation to Trump.

Nippon Steel agreed to the pause, according to documents provided by the court.

The Japanese company sued the US government after former US President Joe Biden blocked the transaction in January for national security grounds following an earlier CFIUS review.

US asks for 60-day pause in Nippon Steel suit