Trump: "Nippon Steel will invest, not acquire US Steel"… Acquisition Denied

U.S.-Japan Summit Held
Ishiba: "Japanese Technology to Be Provided... A Mutually Beneficial Investment"

U.S. President Donald Trump confirmed that Nippon Steel will not pursue the acquisition of the American steel company US Steel. This effectively solidifies the policy of rejecting the acquisition.

At a joint press conference held after the U.S.-Japan summit with Japanese Prime Minister Shigeru Ishiba at the White House on the 7th (local time), President Trump stated that Nippon Steel will "do something very interesting with US Steel" and that it will "consider investment rather than acquisition."

He did not disclose details regarding the investment but explained that he would meet with Nippon Steel representatives next week to engage in "mediation and coordination."

Prime Minister Ishiba emphasized that Japan’s technology would be provided to U.S. steel plants, making it a mutually beneficial investment.

Earlier, Nippon Steel announced plans in December 2023 to acquire US Steel for $15 billion but faced opposition from political circles and labor unions. As the U.S. presidential election approached, controversy over the sale of US Steel intensified, and ultimately, the previous Biden administration last month rejected Nippon Steel’s acquisition of US Steel citing national security concerns. Japan hoped to discuss Nippon Steel’s acquisition plan for US Steel during this summit, but President Trump also firmly confirmed the policy of rejection.