Trump: Nippon Steel Will Part Own U.S. Steel, U.S. to Be in Control; Share Distribution, Other Details Remain Unclear

By Hiroyuki Tanaka / Yomiuri Shimbun Correspondent

17:06 JST, May 26, 2025

WASHINGTON — U.S. President Donald Trump said Sunday that Nippon Steel Corp. will partially own United States Steel Corp., but the U.S. firm will be controlled by the United States.

“It’s an investment, and it’s a partial ownership [by Nippon Steel], but [U.S. Steel] will be controlled by the USA,” Trump said at an airport in New Jersey.

Trump did not mention concrete details such as how shares in U.S. Steel would be distributed.

Trump said that, although he does not know what the final outcome will be, Nippon Steel is set to invest billions of dollars in U.S. Steel. He also called Nippon Steel a very good company.

On Friday, Trump expressed his intention to approve the planned partnership between the two companies, and some major U.S. media outlets reported that Trump had approved the purchase. Trump had voiced opposition to the acquisition.

In January, then U.S. President Joe Biden blocked Nippon Steel’s purchase of U.S. Steel on the grounds of national security.

Trump in April instructed the Committee on Foreign Investment in the United States (CFIUS) to reexamine whether Nippon Steel’s plan to purchase the U.S. company would pose a risk to the U.S. national security.

After finishing the reexamination, the CFIUS on Wednesday submitted a report about the issue to the president.

Japan waits for official comment

The Yomiuri Shimbun

Chief Cabinet Secretary Yoshimasa Hayashi said at a press conference Monday that the Japanese government will wait for an official comment by the U.S. government following Trump’s remark that the United States will continue to control U.S. Steel.

“If necessary, we want to make efforts to ensure smooth communications among the people and entities involved,” Hayashi said.