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Former U.S. President Donald Trump met with U.S. Steel CEO David Burritt at the White House on Thursday as the embattled steelmaker continues pushing for approval of its $14.9 billion merger with Japan's Nippon Steel. The deal was blocked last month by former President Joe Biden, and Trump has also voiced opposition, stating last year, "I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan."
Despite this, Nippon Steel remains committed to acquiring U.S. Steel, arguing that the merger aligns with Trump's vision for a stronger American economy. The company's vice chairman, Takahiro Mori, reaffirmed that their proposal is beneficial for the U.S. steel industry and aims to discuss the matter directly with Trump on Friday. "We are convinced that our acquisition plan is the best proposal for U.S. Steel," Mori stated.
The upcoming meeting between Trump and Japan's Prime Minister Shigeru Ishiba is expected to touch on U.S.-Japan economic ties, with Trump welcoming Japanese investments in the technology sector.
Meanwhile, Meta (NASDAQ:META) CEO Mark Zuckerberg and FedEx (NYSE:FDX) Executive Chairman Frederick Smith were also at the White House on Thursday for separate discussions, though it remains unclear if they met with Trump.
As the political landscape shifts and the steel industry awaits a final decision, the future of U.S. Steel remains uncertain. The potential merger continues to spark debate over foreign investments and their impact on American businesses.
