Nippon Steel Shares Surge After Trump Backs $14.9B U.S. Steel Deal

Nippon Steel shares jumped on Monday morning in Tokyo after U.S. President Donald Trump voiced support for the company’s $14.9 billion acquisition of U.S. Steel. The Tokyo-listed stock soared 5% to 3,025 yen, making it the top performer on the Nikkei 225. The surge followed a temporary halt in trading earlier in the session due to a flood of buy orders.

Trump's endorsement came via a post on Truth Social, where he appeared to back Nippon Steel’s long-anticipated takeover of the iconic American steelmaker. Market reaction was swift, with U.S. Steel shares closing 21% higher on Friday. Investors interpreted Trump’s statement as a green light for the deal, which had previously faced regulatory and political scrutiny in the U.S.

The acquisition, one of the largest foreign takeovers in the American steel industry, has been under intense review, with concerns about national security and domestic job implications. Trump’s support is seen as potentially removing the final obstacle to the deal’s approval.

Nippon Steel, the world’s fourth-largest steelmaker, has pursued the U.S. Steel acquisition to strengthen its global presence and secure production capacity in North America. The bid is part of a broader strategy to expand outside of Japan amid a declining domestic market.

With both market momentum and high-level political backing, the deal appears closer to completion, marking a significant shift in the global steel industry landscape. Investors are closely watching how U.S. regulatory agencies will respond following Trump’s public approval.

The rally underscores how political signals can dramatically influence global M&A deals and stock movements, particularly in strategically sensitive sectors like steel.