Donald Trump blocks attempts by Japanese company Nippon Steel to take over US Steel

U.S. President Donald Trump holds a joint press conference with Japanese Prime Minister Shigeru Ishiba in the East Room at the White House in Washington, U.S., February 7, 2025. REUTERS/Kent Nishimura

President of the United States of America, Donald J Trump, has stated emphatically that Japanese company Nippon Steel will not be allowed to own majority stake in American steel production company, US Steel.

Trump, who returned to the US Presidency under two months ago, is fulfilling his commitment to stop the Japanese company from taking absolute ownership of the iconic American company which has been struggling.

The American President also disclosed to reporters that he plans to impose a 25 percent tariffs on all steel and aluminium imports into the United States of America.

Nippon had planned a $14.1 billion takeover of the American company which has been going through some difficult times but the latest move by Trump has scampered the deal.

“Nobody can have a majority stake.” He said “a lot of stupidity,” including bad management, has put U.S. Steel in a bad position, but that he believes it can be revived.