Trump says Japanese Nippon Steel to invest in US Steel, not buy it

Former President Joe Biden blocked more than $14B deal between Japanese, US steel companies in January, citing security concerns

By Islamuddin Sajid

ISLAMABAD (AA) - US President Trump said Japanese Nippon Steel Corp. will invest in US Steel Corp., not to buy it, Japanese media reported Saturday.

During a news conference Friday with Japanese Prime Minister Shigeru Ishiba at the White House, the US president said he likes the idea of investing in US Steel, Kyodo News Agency reported.

"I like the idea. U.S. Steel is a very important company to us," Trump said, adding he would "mediate" a deal between the US and Japanese companies.

"I didn't want it purchased, but investment I love," he said.

Former US President Joe Biden blocked a more than $14 billion deal between the two companies in January, citing security concerns.

Nippon Steel later said it would challenge the US move in court.

Trump also opposed the sale of US Steel to the Japanese company.

Kaynak:

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