Economy

Trump Says He Does Not Want to See U.S. Steel Go to Japan (UPDATE 1)

AP file photo
FILE – A view of the United States Steel Mon Valley Works Clairton Plant, in Clairton, Pennsylvania, October 13, 2024.

Jiji Press

11:31 JST, April 10, 2025

Washington, April 9 (Jiji Press)—U.S. President Donald Trump said Wednesday that he does not want to see United States Steel Corp. go to Japan, signaling his opposition to Japanese steelmaker Nippon Steel Corp.’s plan to fully acquire the U.S. peer.

Trump told White House reporters that U.S. Steel is a special company, throwing cold water on expectations that Nippon Steel’s buyout efforts might start to make progress after the president ordered a fresh screening of the deal Monday.

The United Steelworkers labor union and others have expressed opposition to the acquisition plan, and former U.S. President Joe Biden in January ordered the deal to be scrapped, citing national security concerns.

Trump has also expressed his opposition to the deal after taking office, saying he would not allow a full acquisition.

Meanwhile, Nippon Steel is sticking to its policy of aiming for a complete acquisition. It is continuing to lobby the U.S. government while filing a lawsuit with a U.S. court to nullify Biden’s order.

Trump mentioned U.S. Steel on Wednesday while touting the benefits of his administration’s additional tariffs on steel and aluminum imports, introduced last month. He said the domestic steel industry is receiving many orders as a result of the levies.

In a press conference in Tokyo on Thursday, Japanese Chief Cabinet Secretary Yoshimasa Hayashi refrained from commenting directly on Trump’s latest remarks about the U.S. Steel takeover plan. Instead, the top Japanese government spokesman said: “We believe that the private parties involved will proceed with their studies and coordination. The government will work to promote communication between the concerned parties as necessary.”