Trump Says U.S. Steel Will Be Controlled by U.S.
Washington, May 25 (Jiji Press)--United States Steel Corp., which Japan's Nippon Steel Corp. is seeking to fully acquire, "will be controlled by the United States," U.S. President Donald Trump told reporters on Sunday.
"Otherwise, I wouldn't make the deal," Trump added, suggesting that the U.S. government may only allow the Japanese firm to acquire part of U.S. Steel's shares.
While noting that he does not know what the end result will be, Trump said, "It's an investment and it's a partial ownership." He also said that Nippon Steel is a good company as it is about to invest billions of dollars in the steel industry.
The comments came after Trump said in a social media post on Friday that he backs a "planned partnership" between Nippon Steel and U.S. Steel. In the same post, he also said that the possible investment would bring 14 billion dollars of economic benefits to the United States. But he did not mention whether he would approve the acquisition plan nor did he unveil details of the partnership.
(2025/05/26-11:23)
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