Trump, U.S. Steel CEO discuss Nippon Steel's takeover proposal

February 07, 2025 (MLN): President Donald Trump met U.S. Steel Chief Executive David Buritt at the White House on Thursday as the struggling steelmaker has been pushing for a decision on its long-sought takeover by Japan's Nippon Steel.

A $14.9 billion bid for U.S. Steel by Nippon Steel was blocked last month by former President Joe Biden.

Trump has also opposed the deal but has welcomed Japanese investment in the technology sector.

He will meet on Friday with Japan's Prime Minister Shigeru Ishiba at the White House.

It was not immediately clear what was discussed at the meeting between Trump and U.S. Steel's Buritt.

Last year, Trump said, "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."

However, Nippon Steel said on Thursday that its bid fits with Trump's goal of a stronger U.S. as the leaders of the two allies prepared to meet, as Reuters reported.

Takahiro Mori, Nippon Steel's vice chairman, told reporters on Thursday, "We are convinced that our acquisition plan is the best proposal for U.S. Steel."

He added, "I hope that the Ishiba-Trump meeting will convey that to Trump and open the way for a deal."

Meta Platforms' Mark Zuckerberg and FedEx Executive Chairman and Founder Frederick Smith were also at the White House for meetings on Thursday.

It remained unclear if they met Trump.

A Meta spokesperson said on social media platform X Zuckerberg was at the White House to discuss how Meta can help the administration advance American tech leadership abroad.

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