According to Reuters, President Trump stated last week that he does not want US Steel to fall under the control of a foreign company. He opposed Nippon Steel’s USD 15 billion offer to acquire US Steel, saying, "US Steel should not go to Japan." This statement led to a 7% drop in the company’s stock value.
On his return from Florida to Washington, Trump emphasized in a statement to reporters that the deal is directly linked to national security and economic interests. Both companies expressed that they are working closely with the Trump administration to secure a significant investment.
Japanese Prime Minister Shigeru Ishiba commented on the potential acquisition of US Steel by Nippon Steel during a meeting in February. Ishiba highlighted that such a deal must be carefully examined in accordance with US laws and that, ultimately, it is important for US Steel to remain an American company.
Nippon Steel’s offer to acquire US Steel was announced in December 2023 and has faced obstacles from the outset. Former President Joe Biden also raised the issue during the Pennsylvania elections, advocating for US Steel to remain under American ownership.
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