Trump Says Japan’s Nippon Steel Will Drop US Steel Purchase, Invest Instead

Nippon, Japan’s largest steelmaker, proposed a $14.9 billion acquisition of U.S. Steel in December 2023.

Japanese Prime Minister Shigeru Ishiba and U.S. President Donald Trump speak during a press conference at the East Room of the White House in Washington on Feb. 7, 2025. Madalina Vasiliu/The Epoch Times

Japan’s Nippon Steel is considering investing in U.S. Steel rather than owning the company, President Donald Trump said on Feb. 7.

“They’ve agreed to invest heavily in U.S. Steel, as opposed to own it, and that sounds very exciting,” Trump told reporters at a press conference alongside Japanese Prime Minister Shigeru Ishiba in Washington.