US President Donald Trump has stressed once again that Nippon Steel will not have a majority stake in US Steel. He said, "Nobody can have a majority stake for US Steel."
Speaking to reporters on board Air Force One on Sunday, Trump said, "I don't mind an investment in a company. US Steel for 15 years was the greatest company in the world, the greatest number one company in the world, and I'm not going to let another country buy."
His comments suggests he will not overturn his predecessor's decision to block Nippon Steel to take over the American firm. The Japanese company announced a plan in December 2023 to acquire all shares of US Steel and make it a wholly owned subsidiary.
Trump also said that the additional 25 percent tariffs on all steel and aluminum imports will help the US firm's finances.
He said: "US Steel was one of our great companies, and through a lot of stupidity and bad government, and also bad management of the company it lost that luster. But it's going to gain it back and tariffs are going to help. Tariffs are going to make it very successful again."
Trump has suggested that he will meet Nippon Steel executives this week.
Nippon Steel says it can't comment because it is not aware of the remark Trump has made about a majority stake.
The Japanese company also says the White House has not reached out to set the date for a meeting with the president.
Nippon Steel added that, if invited, Chairman and CEO Hashimoto Eiji will be ready to fly to Washington to meet with the US President.
Speaking to reporters on board Air Force One on Sunday, Trump said, "I don't mind an investment in a company. US Steel for 15 years was the greatest company in the world, the greatest number one company in the world, and I'm not going to let another country buy."
His comments suggests he will not overturn his predecessor's decision to block Nippon Steel to take over the American firm. The Japanese company announced a plan in December 2023 to acquire all shares of US Steel and make it a wholly owned subsidiary.
Trump also said that the additional 25 percent tariffs on all steel and aluminum imports will help the US firm's finances.
He said: "US Steel was one of our great companies, and through a lot of stupidity and bad government, and also bad management of the company it lost that luster. But it's going to gain it back and tariffs are going to help. Tariffs are going to make it very successful again."
Trump has suggested that he will meet Nippon Steel executives this week.
Nippon Steel says it can't comment because it is not aware of the remark Trump has made about a majority stake.
The Japanese company also says the White House has not reached out to set the date for a meeting with the president.
Nippon Steel added that, if invited, Chairman and CEO Hashimoto Eiji will be ready to fly to Washington to meet with the US President.
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Summary
US President Trump reiterated that Nippon Steel will not hold a majority stake in US Steel. He expressed concern about foreign ownership, citing historical greatness of US Steel. Trump stated tariffs on steel and aluminum imports would help the company's finances and restore its success. He also
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ID: cdbbb843-3144-4616-9b57-8352f6f6aa6f
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20250210_08/
Date: Feb. 10, 2025
Created: 2025/02/10 19:00
Updated: 2025/12/08 06:22
Last Read: 2025/02/10 22:23