Memorandum for THE SECRETARY OF THE TREASURY
THE SECRETARY OF STATE
THE ATTORNEY GENERAL
THE SECRETARY OF HOMELAND SECURITY
THE SECRETARY OF DEFENSE
THE SECRETARY OF COMMERCE
THE SECRETARY OF LABOR
THE SECRETARY OF ENERGY
THE UNITED STATES TRADE REPRESENTATIVE
THE DIRECTOR OF NATIONAL INTELLIGENCE
THE Director of the Workplace of Science
and Generation Coverage
SUBJECT: Evaluation of Proposed United States Metal
Company Acquisition
On January 3, 2025, President Biden issued an order prohibiting the purchase of United States Metal Company (U.S. Metal) by way of Nippon Metal Company, Nippon Metal North The usa, Inc., and 2023 Merger Subsidiary, Inc. (jointly, the Clients, and jointly with U.S. Metal, the Events). In that order, President Biden reserved the suitable of the President “to factor additional orders with admire to the Clients or U.S. Metal as shall in my judgment be essential to offer protection to the nationwide safety of america.”
Phase 1. Evaluation. (a) In keeping with my authority below Article II of the Charter and the regulations of the United States, together with segment 721 of the Protection Manufacturing Act of 1950 (segment 721), as amended, 50 U.S.C. 4565, I direct the Committee on International Funding in america (CFIUS) to behavior a assessment of the purchase of U.S. Metal by way of the Clients to lend a hand me in figuring out whether or not additional motion in this topic is also suitable.
(b) CFIUS’s assessment might be carried out de novo, confidentially, and in keeping with the procedures set forth for nationwide safety critiques below segment 721, together with, however no longer restricted to, figuring out possible nationwide safety dangers related to the proposed transaction and offering good enough alternative to the events to answer such considerations.
Sec. 2. Advice. In keeping with the procedures set forth in segment 721, inside of 45 days of the date of this memorandum, CFIUS shall post a advice to me describing whether or not any measures proposed by way of the events are enough to mitigate any nationwide safety dangers recognized by way of CFIUS. This advice shall come with a remark describing each and every member company’s place, together with the explanations for such place.
Sec. 3. Basic Provisions. (a) Not anything on this memorandum might be construed to impair or in a different way have an effect on:
(i) the authority granted by way of regulation to an govt division, company, or the top thereof; or
(ii) the purposes of the Director of the Workplace of Control and Finances in relation to budgetary, administrative, or legislative proposals.
(b) This memorandum might be applied in keeping with acceptable regulation and matter to the provision of appropriations.
(c) This memorandum isn’t meant to, and does no longer, create any proper or get advantages, substantive or procedural, enforceable at regulation or in fairness by way of any birthday party in opposition to the United States, its departments, companies, or entities, its officials, staff, or brokers, or every other particular person.