What Happened: Trump’s unexpected comments came amid Nippon Steel’s year-long pursuit of U.S. Steel, which has faced staunch opposition from the President himself. The remarks were made in the presence of Japanese Prime Minister Shigeru Ishiba at the Oval Office.

Nippon Steel “is going to be doing something very exciting about U.S. Steel,” the president said.

“They’ll be looking at an investment rather than a purchase.”

"They've agreed to invest heavily in U.S. Steel, as opposed to own it."

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The details of the investment and any potential changes to the deal structure remain unclear. However, Trump has announced plans to meet with the head of Nippon Steel next week to “mediate and arbitrate.”

"It is not one sided. It will be reciprocal, it will be mutually beneficial," Ishiba said.

Comments from Trump came a day after his meeting with U.S. Steel CEO David Burritt at the White House. The deal has become a contentious issue, with both Biden and Trump having previously vowed to block it.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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