Steel Merger Standstill: U.S. and Japan on the Negotiation Table
President Trump met U.S. Steel CEO David Buritt to discuss a blocked $14.9 billion merger with Japan's Nippon Steel. Trump supports Japanese tech investment but opposes foreign ownership of U.S. Steel. Nippon Steel argues the merger aligns with strengthening U.S.-Japan ties, hoping for a breakthrough in the scheduled meeting.
President Donald Trump convened with U.S. Steel's CEO David Buritt at the White House on Thursday as the company seeks approval for merging with Japan's Nippon Steel, a deal blocked by former President Joe Biden last month.
Despite his opposition to the merger, Trump has expressed support for Japanese investment in the technology sector and is scheduled to meet with Japan's Prime Minister Shigeru Ishiba to discuss the matter further.
Nippon Steel remains hopeful about their acquisition plan, emphasizing how it aligns with U.S. and Japanese strengthening goals as the two leaders prepare for discussions.
(With inputs from agencies.)
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