Japan's Ishiba Showed Trump Revised Plan over U.S. Steel
Tokyo, Feb. 9 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba presented a revised plan over Nippon Steel Corp.'s bid to acquire United States Steel Corp. during his summit with U.S. President Donald Trump on Friday, sources said Sunday.
Although details are not known, the revised plan is believed to include a substantial increase in Nippon Steel's investment in U.S. Steel from the 2.7 billion dollars pledged so far by the Japanese company.
Ishiba seems to have discussed the revised plan with Nippon Steel before presenting it to Trump at the summit in Washington.
Nippon Steel Chairman and CEO Eiji Hashimoto is expected to meet with Trump this week to provide details of the planned investment. The U.S. Steel acquisition plan, which former U.S. President Joe Biden's administration ordered Nippon Steel to scrap on security grounds, may start moving again.
Nippon Steel has emphasized that making the U.S. company a wholly-owned subsidiary to protect information is a prerequisite for technology transfer and big capital investment.
(2025/02/09-22:33)
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