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From the Washington Examiner: President Donald Trump said Friday that Japan’s Nippon Steel will “invest heavily” in U.S. Steel rather than continue to pursue an outright purchase.
Former President Joe Biden blocked the nearly $15 billion sale to Nippon in his final months in office, following a recommendation by the Committee on Foreign Investment in the United States. At the time, Trump also opposed the deal, arguing that U.S. Steel should be owned by an American company.
“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” he wrote on social media at the time.
Trump, speaking alongside Japanese Prime Minister Shigeru Ishiba at a press conference, stated that Nippon has “agreed to invest heavily in U.S. Steel, as opposed to own it,” adding that the administration would be meeting with Nippon representatives next week.
“It sounds very exciting,” the president continued. “They’ll work out the details. I’ll help. I’ll be there to mediate and arbitrate.”
WATCH BELOW:
President Trump: I didn’t want U.S. Steel purchased, but investment I love — and they’re going to do a big investment, subject to getting the deal done. pic.twitter.com/u8fs8sjaxe
— Rapid Response 47 (@RapidResponse47) February 7, 2025
Ishiba announced that he intends to “elevate Japan’s investment in the United States to an unprecedented amount of $1 trillion” now that President Trump is back in office.
Japanese Prime Minister Shigeru Ishiba announces he intends to “elevate Japan’s investment in the United States to an unprecedented amount of $1 trillion” now that President Trump is back in office. pic.twitter.com/v86VnIzptM
— Rapid Response 47 (@RapidResponse47) February 7, 2025
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