A deal to acquire US Steel was blocked by former President Joe Biden but Nippon Steel views it as an option to counter potential tariffs imposed by new President Donald Trump. Trump has delayed a 25% tariff on imports from Canada and Mexico, but the acquisition remains under consideration.
Source: https://asia.nikkei.com/Business/Business-deals/Nippon-Steel-says-U.S.-Steel-deal-more-crucial-amid-uncertain-tariffs