Donald Trump says Nippon Steel has resigned from the Steel Plan

Reflect the Watch Watch Watch Bulletin for free

Your guide to what the US elections mean for Washington and the world

Donald Trump announced that Nippon Steel has abandoned his plan to buy Steel, but “invests a lot” in the iconic producer from Pittsburgh.

At a joint press conference with the Japanese Shiger Prime Minister IShiba on Friday, the president said that the investment perspective in Stal us He was “very exciting”, adding that he met with his head Nippon next week.

“They will develop details. . . I will be there to mediate and arbitration – he said.

Earlier on Friday, Trump said that he had not changed his mind about opposition Takeover of American Nippon steel in the amount of USD 15 billion. Last month, companies sued the US after the administration of Joe Biden in January blocked the proposed agreement.

One person familiar with the situation said that the investment details were not finalized. The White House did not answer the request for more information about what two leaders agreed. Nippon also refused to comment.

United Steelworkers Union, who was the greatest opponent of the proposed acquisition, said that the Nippon Steel Nippon remained.

“Our association did not have contact with the company or administration regarding reports on investment in Nippon in American steel,” said David McCall, president of the Union.

McCall added: “Our fears regarding the constant interest of Nippon American steel remain unchanged. Nippon turned out to be a serial trade fraud with the history of dropping its products on our markets. “

Two people similar to the situation stated that negotiations would probably reach the contract, which would be “very similar” to the original proposed acquisition, and that US steel will certainly retain its name.

They added that it was not clear whether this would release Nippon from the fee for interrupting USD 565 million, which was to pay if the contract did not pass.

Earlier on Friday, Trump said that he would consider hitting Japanese exports with tariffs if the US commercial deficit in the Asian country was not eliminated and committed to unveiling “mutual” tariffs to other nations next week.

Speaking in the oval office before the meeting, Trump said that the tariffs were an option to deal with the US trading deficit with Japan, the most important American ally in the Indo-Pacific. In 2024, the American deficit in goods with this country amounted to USD 68 billion, compared to USD 55 billion in 2020 before the end of the first term.

Asset He said that Washington and Tokyo would cooperate to reduce the commercial deficit, saying “they also want honesty.”

When asked about the threat of tariffs, the president said: “We didn’t talk too much to the tariffs.”

Ishiba said that “he was unable to answer the theoretical question” when he was asked if Tokyo would take revenge.

Trump also said that Japan would buy more American liquefied natural gas. US President, Ishib, agreed that Biden administration made Japan to buy more American LNG. He said it was “wonderful”, that more sales were allowed.

On the first day of office, Trump signed an executive order in order to increase oil and gas production in Alaska, raising restrictions from the time of biden in drilling and setting priorities to develop the LNG of State Sector, including granting permission to the pipeline and export terminal.

Japan, the second largest gas consumer in the world after China, is one of the largest importers of the American LNG, which is sold mainly as part of long -term contracts with foreign public utility.

The US government does not play a role in the sale of LNG. However, it is expected that export capabilities in the US, the largest in the world, almost twice as much than 2024 levels until 2028, when more terminals appear.

IShiba said: “We also want to improve the commercial deficit that the USA has to Japan, so if we are able to buy it [LNG] At a stable and reasonable price it would be a great situation. ”

In addition to Japan, Trump said that next week he would present “mutual tariffs” in unnamed countries, pointing to the universal fees that he splashed imports to the USA.

Comments on the new tariffs meant another escalation in Trump’s rhetoric and brings the US closer to the edges of many fronts Trade war with some of the closest trading partners and security allies.

“I will announce that next week, mutual trade to treat them evenly with other countries,” said Trump. During the presidential campaign last year he repeatedly warned that he would impose a universal tariff on imports to the USA.

Trump at the beginning of this week suspended until March 1 His plan to put on steep tariffs to Mexico and Canada, two largest trading partners in the USA, but he continued a 10 % import fee from China. Beijing answered with retaliation tariffs that will come this weekend.