Trump Says He Didn’t Want US Steel to Be Acquired by Japan’s Nippon Steel

Japanese officials emphasize efforts to enhance communication amidst ongoing talks / Reuters

In a recent statement, U.S. President Donald Trump expressed his opposition to the potential acquisition of the American steel company US Steel by Japan’s Nippon Steel, emphasizing that he did not want such a deal with Japan or any other foreign country. Speaking at a press conference on February 13th at the White House, Trump reiterated his stance that US Steel should seek new opportunities, particularly after the tariffs on steel he imposed earlier in his administration. Trump also stated that he was unsure about his involvement in discussions regarding the acquisition but did not elaborate on his future role in the negotiations.

Trump’s comments came after his earlier meeting with Japanese Prime Minister Shigeru Ishiba on February 7th, where they discussed the future of the US Steel acquisition. Following that meeting, Trump suggested that Nippon Steel would not pursue the acquisition but would instead focus on making large-scale investments in the U.S. steel industry. However, his remarks on February 13th appeared to show a shift in his approach, suggesting that the situation was still unresolved.

Nippon Steel has been actively working on a plan to acquire US Steel, aiming to take full control of the company and transfer its technology to increase U.S. production capabilities. However, following Trump’s comment on February 9th, in which he stressed that no entity should hold a majority stake in US Steel, the Japanese company’s acquisition plans have faced increasing challenges.

The company’s senior executives are continuing to engage with U.S. officials, and Takahiro Mori, Nippon Steel's Vice President, flew to the U.S. on February 12th to meet with American government representatives. Should Trump decide to take a more active role in the discussions, it is expected that Nippon Steel’s Chairman, Eiichi Hashimoto, would be involved in the talks.

Meanwhile, Japanese government spokesperson Yoshimasa Hayashi addressed questions regarding Nippon Steel's plans, stating that discussions between relevant parties are ongoing and that the Japanese government will continue to facilitate communication where necessary. He reiterated that Nippon Steel is not focusing on acquisition but rather on making bold investments to produce high-quality products that would benefit both Japan and the U.S. This approach is intended to create a “win-win” scenario for both nations, offering a different strategy than previous initiatives.