Japan Steel’s Bold Move to Acquire US Steel #Japan steel #U.S. steel #trump #$11 billion #approved

Japan Steel’s Bold Move to Acquire US Steel #Japan steel #U.S. steel #trump #$11 billion #approved

Japan Steel is proposing to invest up to 14 billion, including building a new $4 billion steel plant as part of its plan to acquire US steelmaker US Steel pending US government approval. This investment is five times larger than its previous plan. Ahead of the Trump administration’s review, Japan Steel is making a final push to secure approval by showing its commitment to expanding steel production in the US. The company plans to invest 11 billion by 2028 and increase it to 14 billion in the following years. After the news, US steel stock rose slightly, while Japan’s steel stock dipped a bit. Previously, the Biden administration blocked the acquisition due to union opposition, but Trump ordered a review of that decision. Trump emphasizes the importance of boosting US steel production and the approval decision is highly anticipated.