Japan reacts to Trump’s comments on us steel
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Japan reacts to Trump’s comments on us steel

Nippon Steel has met an upward fight in his bid to buy US Steel. US President Donald Trump’s comments over the weekend indicate that it may need to rethink the plans to make the US company its fully owned subsidiary.

Trump said Sunday that no one could have a majority share in US Steel. This followed his previous comments that Nippon Steel needed to make “big investments” to get the deal.

The Japanese government weighed the issue. The main locker secretary Hayashi Yoshimasa said on Monday: “We are aware that Nippon Steel is not looking at the case as a pure acquisition, but is considering a bold proposal that is completely different from what it has done before.” He added that it would create a “win-win situation for both countries” through significant investment and high quality products.

Trump has stated that he will meet Nippon Steel managers this week. The company said its chairman and CEO, Hashimoto Eiji, is ready to fly to Washington to meet the president, if invited.

Nippon Steel announced a plan 2023 to acquire all shares in US Steel and make it a wholly owned subsidiary. It said it would be difficult to provide very confidential, modern technology to the company otherwise.