Trump Meets US Steel CEO to Discuss Its Long Sought Tie Up with Japan

Reuters

10:36 JST, February 7, 2025

WASHINGTON (Reuters) — President Donald Trump on Thursday met U.S. Steel X.N Chief Executive David Buritt at the White House as the struggling steelmaker has been pushing for a decision on its long sought tie-up with Japan’s Nippon Steel.

A proposed $14.9 billion merger between the two companies was blocked last month by former President Joe Biden.

Trump has also opposed the deal but has welcomed Japanese investment in the technology sector. He will meet Friday with Japan’s Prime Minister Shigeru Ishiba at the White House.

Last year, Trump said “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.”

However, Nippon Steel said on Thursday that its bid fits with Trump’s goal of a stronger U.S. as the leaders of the two allies prepared to meet.

Takahiro Mori, Nippon Steel’s vice chairman, said he will convey that message when he meets with Trump on Friday and “open the way for a deal.”

We are convinced that our acquisition plan is the best proposal for U.S. Steel, he said.

Meta’s Mark Zuckerberg and FedEx Executive Chairman and Founder Frederick Smith were also at the White House for meetings on Thursday. It remained unclear if they met Trump.