Nippon Steel is planning to inform US President Donald Trump of its intention to proceed with the $14.9 billion acquisition of US Steel, despite repeated indications that the deal is dead. According to a report by TV Tokyo, the Japanese steelmaker will press on with the purchase as planned.
Nippon Steel Vice Chairman Takahiro Mori is visiting the US to lay the groundwork for talks with the Trump administration, and Chairman and CEO Eiji Hashimoto may have a meeting with Trump next week. The company has maintained its confidence in the transaction despite no public comments from Nippon Steel or confirmation of a meeting with Trump.
The deal appeared effectively dead after a meeting between Trump and Prime Minister Shigeru Ishiba last week, when Trump said Nippon Steel would invest in US Steel instead of purchasing it. However, Trump recently suggested that his tariff policy will make the American steel industry stronger, implying that he may still be open to negotiations.
The acquisition has raised concerns among Japanese business leaders about economic ties with the US, as a rejection by the US government might discourage other Japanese companies from investing in the world’s largest economy.
Source: https://www.japantimes.co.jp/business/2025/02/14/companies/nippon-steel-report