Washington — President Trump is holding a joint press conference with Japanese Prime Minister Shigeru Ishiba Friday, as Japan’s Nippon Steel hopes the Trump administration will allow a $14.1 billion bid for U.S. Steel to move forward, despite Mr. Trump’s previous pledge to block the deal.
Mr. Trump told reporters Friday he hasn’t changed his mind on U.S. Steel, but multiple sources said he is considering allowing Japan’s Nippon Steel to complete its acquisition of U.S. Steel. Approval of the transaction isn’t definite, and Mr. Trump has not made a final decision, sources say.
Mr. Trump met with the CEO of U.S. Steel, David Burritt, at the White House on Thursday. The Biden administration blocked the sale of U.S. Steel to Nippon Steel last month. U.S. Steel and Nippon Steel have filed lawsuits over the Biden administration’s decision to stop Nippon Steel from taking over its Pittsburgh-based rival company.
“The United States is proud of our long and close alliance with Japan, and it’s time for a new age of U.S. Japan relations to bring peace and prosperity to the Indo-Pacific,” a senior administration official told reporters on a phone call. “Our two nations will continue to work together to ensure we deter threats in the region through our full range of military capabilities.”
Friday is Mr. Trump’s first in-person meeting with Ishiba.
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Mr. Trump’s appearance with the Japanese prime minister is his second meeting and joint press conference with a foreign leader this week. On Tuesday, Mr. Trump hosted Israeli Prime Minister Benjamin Netanyahu, and said the U.S. wants to take control of and “own” the Gaza Strip.
Ishiba will likely look to persuade Mr. Trump from placing any tariffs on Japanese goods, as Mr. Trump exercises his authority to slap tariffs on nations that he believes aren’t treating the U.S. fairly.
The U.S. and Japan have close financial ties, and Japan is the largest source of direct foreign investment into the U.S.
A senior administration official said topics of their discussion will include training exercises and increasing cooperation on defense equipment and technology, foreign investment in the U.S., energy exports, and ways to increase cooperation in space ventures, among other things.
Mr. Trump grew close to Japan’s former prime minister, Shinzo Abe, who was assassinated in 2022. Mr. Trump hosted Abe’s widow at his Mar-a-Lago estate in December.
How to watch President Trump’s press conference
What: President Trump holds a press conference with the Japanese prime minister
Date: Friday, Feb. 7, 2025
Time: After 1 p.m. ET
Location: White House
Online stream: Live on CBS News in the video player above and on your mobile or streaming device.
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Jennifer Jacobs and
contributed to this report.