President Trump mediates as US Steel and Nippon Steel agree to an investment deal instead of the previously planned acquisition. This comes after President Biden blocked the $14.1 billion purchase citing national security concerns. Japan's Prime Minister Ishiba meets with Trump, focusing on trade and security issues.
President Donald Trump announced that Nippon Steel will not be buying U.S. Steel as previously planned. Instead, Nippon Steel will make an investment in the Pittsburgh-based company. Trump stated that he will mediate and arbitrate the negotiations between the two companies. This comes after President Joe Biden, before leaving office last month, blocked the $14.1 billion acquisition citing national security concerns. Trump had previously expressed his opposition to the Japanese company buying U.
S. Steel outright. Trump aims to reduce the U.S. trade deficit with Japan, which currently stands at $68 billion. He met with Japanese Prime Minister Shigeru Ishiba at the White House on Friday, February 7, 2025, to discuss the issue. Trump asserted that he believes the trade deficit can be resolved amicably, but he is not ruling out the possibility of imposing tariffs against Japan. He emphasized the importance of fairness in trade relations and expressed confidence in the ability of both countries to reach a mutually beneficial agreement. Ishiba, who is on a brief visit to Washington, acknowledged Trump's desire for a more balanced trade relationship. He also highlighted Japan's significant investment in the United States over the past five years, stating that Japan is eager to further its economic engagement in the country.During the meeting, Trump and Ishiba addressed shared security concerns regarding North Korea. Trump expressed his intention to reestablish a relationship with the country's leader, Kim Jong Un, stating that he had a positive working relationship with Kim during his first term in office. He believed that the relationship had helped prevent war and garnered support from other nations. Trump also mentioned his desire to see some FBI agents fired as the Justice Department reviews the agency's handling of the January 6, 2021 attack on the U.S. Capitol. He claimed that some agents were corrupt and vowed to take swift and decisive action. The meeting between Trump and Ishiba served as a platform for both leaders to reiterate their commitment to strengthening bilateral ties and addressing pressing global issues
US Steel Nippon Steel Donald Trump Shigeru Ishiba Trade Deficit National Security North Korea FBI
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