US President Donald Trump has signaled support for a potential major investment in US Steel, which could be a breakthrough for the stalled deal. The Biden administration had blocked the Japanese company’s $14 billion takeover bid last month, citing national security concerns.
The decision left the fate of US Steel uncertain, with the company threatening to close mills and lay off workers if the deal didn’t move forward. Trump has agreed with former President Joe Biden that US Steel should remain American-owned and operated.
Trump spoke at a news conference on Friday, saying that an investment from Nippon Steel was “very exciting.” He did not provide details on the proposed arrangement but said he would mediate and arbitrate its terms.
Japanese Prime Minister Shigeru Ishiba also expressed optimism about the potential investment, stating that Japanese technology would be provided to improve product quality. The move comes after US Steel and Nippon Steel filed a lawsuit against the Biden administration, claiming that the review process was corrupted by politics.
The deal’s future remains uncertain, but Trump’s nod of support suggests a possible breakthrough for the stalled transaction.
Source: https://www.nytimes.com/2025/02/07/us/politics/trump-nippon-steel-us.html