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Trump Says Nippon Steel Will Make Major Investment in US Steel
February 10, 2025
US President Donald Trump and Japanese Prime Minster Shigeru Ishiba said that Nippon Steel may make a significant investment in US Steel. The potential investment may be a significant shift away from the originally planned buyout, where Nippon Steel had announced a $14.1bn acquisition of the American steelmaker. This comes after the previous Biden administration rejected Nippon’s bid, with the government blocking the deal last month, citing national security concerns. Trump expressed caution and optimism about Nippon’s potential investment, noting its possibility of bolstering US Steel’s future. Japanese Prime Minister Shigeru Ishiba also supported the investment, highlighting Japan’s advanced technology and its role in improving product quality in the US. Trump did not elaborate on the investment details, but he expressed his willingness to mediate negotiations and to let US Steel remain an American company. The companies have filed a lawsuit challenging the blocking of the deal, claiming that the review process was politically motivated and detrimental to American steelworkers and the industry.
US Steel’s dollar bonds were trading weaker by 0.5 points to 6.875% 2029s at 100.6, yielding 6.57%.
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