Trump effectively approves Nippon Steel's takeover of US Steel
WASHINGTON (Kyodo) -- U.S. President Donald Trump on Friday effectively approved a deal for Nippon Steel Corp. to acquire United States Steel Corp., reversing his staunch opposition to the Japanese company's takeover bid after it committed to investing heavily in the struggling American producer.
Nippon Steel said Trump has "approved" their "historic partnership that will unleash unprecedented investments in steelmaking in the United States."
Trump's green light for what he has described as a "great partnership" between the Japanese and U.S. producers caps a saga that began in December 2023, when both sides first announced the proposed $14.1 billion deal.
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