Nippon Steel Reports U.S. Steel Acquisition to Japan Minister; Akazawa Hopes to Get Advice Ahead of U.S. Tariff Talks

The Yomiuri Shimbun

13:34 JST, June 24, 2025

Nippon Steel Corp. Chairman Eiji Hashimoto spoke with economic revitalization minister Ryosei Akazawa on Monday about United States Steel Corp. becoming a wholly owned subsidiary of Nippon Steel.

“I’d like for you to tell me how I can conduct successful negotiations,” said Akazawa, who is in charge of tariff negotiations with the administration of U.S. President Donald Trump.

Hashimoto said, “[The acquisition agreement] matched the objectives of our company, as we want to develop our business in the United States, and the Trump administration, which wants to revive the U.S. manufacturing industry.”

“It took a year and a half [from when it was first announced], but mutual trust and understanding have deepened,” Hashimoto added. “I hope this will help Japan-U.S. cooperation.”

With no agreement on tariffs between Japan and the United States in sight, Akazawa said: “We hope to have the tariff negotiations head in a more positive direction. I would like to ask you to give us some advice regarding negotiations.”

Nippon Steel President Tadashi Imai and Vice Chairman Takahiro Mori were also present at the meeting.