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Nippon Steel declined to comment on Monday after former U.S. President Donald Trump stated that no entity could hold a majority stake in U.S. Steel. Trump made the remark on Sunday while speaking to reporters aboard Air Force One.
The Japanese steel giant previously announced a $14.9 billion bid for U.S. Steel, but Trump suggested on Friday that the deal would take the form of an investment rather than a full acquisition. Despite this, sources close to the matter confirmed that Nippon Steel had not withdrawn its offer.
The specifics of the potential investment remain unclear, including whether it represents a restructured deal. Trump, who has voiced concerns about foreign ownership of key U.S. industries, stated that he plans to meet with Nippon Steel’s leadership this week and would personally intervene to "mediate and arbitrate" the situation.
Nippon Steel’s bid for U.S. Steel has faced scrutiny from both political and industry figures, reflecting broader concerns about foreign investments in critical American infrastructure. The steel sector has long been a strategic industry in the U.S., making any acquisition subject to heightened political and regulatory review.
While the company remains tight-lipped on Trump’s remarks, the evolving situation could reshape how foreign firms invest in U.S. manufacturing. As discussions continue, all eyes will be on Nippon Steel’s next move and how Washington responds to the high-stakes steel industry deal.
