Ishiba: Nippon Steel may make a huge investment rather than buy American Steel

Japanese Prime Minister Shigeru Ishiba, in a meeting with U.S. President Donald Trump, proposed a revised proposal for Japan Steel's planned acquisition of U.S. Steel, which calls for a huge investment rather than a takeover, according to a Japanese government official.

Japan's Kyodo news agency reported that Ishiba on Sunday (February 9) in the Japanese public broadcaster NHK program stressed that this is not a simple acquisition, but investment. He also said he had previously discussed the issue with Nippon Steel.

Regarding the relationship between the United States and American steel companies, Ishiba said that the United States has resistance to American Steel being acquired by Japan and becoming a Japanese company, "American Steel is still producing high-quality products as an American company, which is extremely important for Trump."

Trump will also have detailed discussions with the senior management of Japan Steel in the near future, and the senior management of American Steel may also be involved.

Under the original plan, Nippon Steel bought American Steel for about $14.1 billion and planned to invest more than $2.7 billion in steel plants and other investments. The revised plan is expected to significantly increase investment.

Asked if the Trump administration might impose tariffs on Japan in the future, Ishiba said: "I don't know."

He pointed out that tariff policies must be beneficial to both sides, and unilateral exploitation cannot be sustained in the long term.

Ishiba Shigeru also revealed that for Trump, who put "America first", "(he) repeatedly stressed that for the sake of the overall development and stability of the world, the United States should take corresponding responsibilities".