He made the announcement at the White House during the visit with Japanese Prime Minister Ishiba.
President Donald Trump announced that Japanese company Nippon Steel will “invest heavily” in the American company U.S. Steel instead of trying to acquire it. The president made the announcement at the White House during the visit of Japanese Prime Minister Shigeru Ishiba.
“[Nippon’s] going to be doing something very exciting about U.S. Steel. They’ll be looking at an investment rather than a purchase,” President Trump said. “U.S. Steel is a very important company to us. It was the greatest company in the world for 15 years, many years ago, 80 years ago. And we didn’t want to see that leave. And it wouldn’t actually leave. But the concept, psychologically, not good. So they’ve agreed to invest heavily in U.S. Steel as opposed to own it, and that sounds very exciting.”
Nippon Steel had previously proposed its $14.1 billion purchase of U.S. Steel in December 2023. President Biden’s administration took many steps to block this proposal, citing national security and threats of a monopoly.
President Trump said the details were still being negotiated. “They’ll work out the details. I’ll be there to mediate and arbitrate,” he said.
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- For the president and his economic advisors as they craft foreign and domestic policies.
- For members of the president’s administration to be led by the Lord as they seek to support the nation’s economy.
Sources: Reuters, CNBC
