President Donald Trump announced Friday that Japan’s Nippon Steel plans to make a large investment in U.S. Steel but will not purchase the company.
Appearing at a joint news conference with Prime Japanese Prime Minister Shigeru Ishiba, Trump said that Nippon “is going to be doing something very exciting about U.S. Steel. They’ll be looking at an investment rather than a purchase. U.S. Steel is a very important company to us.”
“I’ll be there to mediate and arbitrate,” the president added, noting representatives of the two companies are slated to meet next week and work toward a deal.
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