Trump gives seal of approval to ‘partnership’ amid desire to revive steel industry
Criticism of Nippon Steel’s proposed acquisition of U.S. Steel intensified during the 2024 U.S. presidential election. The conclusion of a second CFIUS review of the deal marks another major chapter in the contentious saga. (Nikkei montage/Source photos by Getty Images, AP and Yuki Nakao)
SHOTARO TANI
May 24, 2025 14:01 JST
Updated on June 14, 2025 12:24 JST
TOKYO — U.S. President Donald Trump has reversed former President Biden’s decision to block Nippon Steel’s acquisition of U.S. Steel, marking a major milestone in protracted efforts to seal the $14.9 billion deal.
The plan was announced in December 2023 faced length delays due to “national security concerns” and political wrangling in the world’s largest economy.
