Nippon Steel is looking to revive its plan to purchase iconic American steelmaker US Steel, despite President Donald Trump’s statements earlier this month that it is only interested in an “investment” and his pledge not to allow it to buy a controlling stake.

Nippon Steel's president reaffirms commitment to U.S. Steel acquisition, seeking Trump's approval despite his preference for investment only.

Nippon Steel's top executive said Tuesday the Japanese company will stick with its proposed $14.1 billion takeover of U.S. Steel, despite President Donald Trump backing an investment and the possibility of tariffs.

Nippon Steel President Tadashi Imai announced that discussions with the U.S. Department of Commerce will soon begin as the Japanese steelmaker seeks to revive its bid for U.S. Steel. The previous $14.

The Japanese company's previous merger agreement with US Steel, blocked by the administration of former President Joe Biden, will serve as a starting point for discussions, Prez Imai said

The discussions come after President Trump said he supported what he described as an emerging agreement, that would allow Nippon Steel to invest in—but not fully own—the U.S. company.