Nippon Steel is looking to revive its plan to purchase iconic American steelmaker US Steel, despite President Donald Trump’s statements earlier this month that it is only interested in an “investment” and his pledge not to allow it to buy a controlling stake.

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Nippon Steel's president reaffirms commitment to U.S. Steel acquisition, seeking Trump's approval despite his preference for investment only.

Nippon Steel's top executive said Tuesday the Japanese company will stick with its proposed $14.1 billion takeover of U.S. Steel, despite President Donald Trump backing an investment and the possibility of tariffs.

Nippon Steel Corp. reiterated its objective for the $14.1 billion takeover of United States Steel Corp. after President Donald Trump said the Japanese company was considering an investment instead.

The discussions come after President Trump said he supported what he described as an emerging agreement, that would allow Nippon Steel to invest in—but not fully own—the U.S. company.

U.S. Steel workers rally outside Pittsburgh headquarters in support of the takeover by Japan's Nippon Steel in September. Photo: Rebecca Droke/AFP via