Date : April 14 .2025
U.S. President Donald Trump renewed his previous statements opposing the acquisition of U.S. Steel by a foreign company, which diminished hopes for the completion of the $15 billion acquisition offer made by Japan's Nippon Steel.
Last Wednesday, Trump stated that he did not want to see U.S. Steel "go to Japan," which led to a 7% drop in the company's shares, according to the U.S. website "Investing." Meanwhile, Japanese Prime Minister Shigeru Ishiba noted that he discussed the deal with Trump during their meeting in February, as he mentioned today during a parliamentary session in Tokyo.
Ishiba said, "The difference between acquisition and investment must be carefully considered in light of U.S. law, but there must be a point where U.S. Steel remains an American company, while also achieving Japanese interests."
The original deal announced in December 2023, aimed at Nippon Steel's acquisition of U.S. Steel, faced obstacles from the outset, as both former President Joe Biden and Trump expressed their opposition to the deal, emphasizing the need for the company to remain under American ownership in an effort to attract voters in the swing state of Pennsylvania, where the company's headquarters are located, during a heated presidential election.
In January 2025, President Biden banned the deal on national security grounds; however, the companies involved quickly filed a lawsuit, claiming they did not receive a fair review and accusing Biden of politicizing the decision through his public opposition to the deal to enhance his chances of re-election.