02-07-2025
Japan PM Ishiba hails Nippon Steel acquisition of US Steel
Japan's Prime Minister Ishiba Shigeru has welcomed Nippon Steel's acquisition of US Steel. He says it could serve as a model case to guide a strong economic relationship between the two countries.
Ishiba was briefed on the deal's completion by Nippon Steel Chairman and CEO Hashimoto Eiji at the Prime Minister's Office on Wednesday.
The Japanese company made the American firm a wholly owned subsidiary last month for 14.1 billion dollars. The deal followed lengthy negotiations to gain approval from the administration of US President Donald Trump.
Hashimoto thanked Ishiba for the government's support. He added he is determined to improve the quality of US Steel's products.
"We want to prove that Japan-US cooperation in manufacturing is beneficial," said Hashimoto.
"We are focusing more on investment than tariffs in the ongoing Japan-US negotiations," said Ishiba. "So in that sense, Nippon Steel is a symbolic case."
Hashimoto later told reporters he will strive to convince US makers that working with Japanese firms will help achieve Trump's goal of reviving American manufacturing.
