Nippon Steel Pushes Forward with $14.9 Billion U.S. Steel Merger Despite Opposition

The Japanese company plans to use its existing merger agreement as the basis for negotiations with the U.S. government as it seeks approval for the controversial deal.

Nippon Steel remains committed to its $14.9 billion bid to acquire U.S. Steel, despite opposition from both former President Joe Biden and current President Donald Trump.
The merger, initially blocked by Biden on national security grounds, has faced political resistance from both administrations due to its implications for union labor and domestic manufacturing.
President Trump has suggested Nippon Steel consider an investment or minority stake in U.S. Steel instead of a full acquisition, though Nippon Steel insists on using the original merger agreement as a starting point for talks.
Executives from both companies are seeking meetings with senior Trump administration officials, including Vice President JD Vance and Commerce Secretary Howard Lutnick, to revive negotiations.
Nippon Steel views the acquisition as central to its global expansion strategy and has pledged significant capital investment to modernize U.S. Steel's infrastructure if the deal proceeds.