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.

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

While Trump has said Nippon Steel will not have a majority stake in U.S. Steel, Imai reiterated his company's intention to take over the iconic but struggling American counterpart.

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 is looking to rekindle a proposed $14.9 billion merger with U.S. Steel. Company president Tadashi Imai said yesterday he hopes to use the proposal as a starting point in new negotiations, countering claims made earlier this month by President Trump.

Jefferies also assumes that raw material costs for iron ore and coking coal will remain steady, with exchange rates at 150 yen per US dollar. However, it expects weak steel supply and demand (S/D) conditions to negatively impact overseas steel operations, and one-off gains from the previous fiscal year will not be repeated.

Union alleges the company "initiated a coordinated attack, attempting to ... undercut our collective power by turning us against each other.”