Nippon, U.S. Steel Deal Remains in Limbo
By
Metal Center News Staff on
Apr 14, 2025
Nippon Steel’s long-running pursuit of U.S. Steel remains an on-again, off-again effort. That was in evidence again this past week.
On Monday, April 7, President Trump ordered a national security group to take a fresh look at the proposed $14 billion acquisition of the U.S. steelmaker by Japan’s Nippon. A memo from the president said, “I direct the Committee on Foreign Investment in the United States ... to conduct a review of the acquisition of U.S. Steel by (Nippon Steel) to assist me in determining whether further action in this matter may be appropriate.”
However, just two days later, the president declared he was opposed to the acquisition of the steelmaker by a Japanese entity. He said his latest round of tariffs would make the deal unnecessary.
The two steel giants announced the merger plans all the way back in 2023, but have faced considerable headwinds on finalizing the deal, with opposition coming from the United Steelworkers and politicians from both parties.