Days after U.S. President Donald Trump announced a “partnership” between Nippon Steel and United States Steel, the Japanese steelmaker remains unsure about what that really means, while the Japanese government isn’t filling in the gaps.
On Sunday, the U.S. president provided additional information about the transaction, which he first mentioned in a Friday social media post. His Sunday comments also further muddied the waters.
“It will be controlled by the United States, otherwise I wouldn’t make the deal,” Trump said of U.S. Steel post-transaction. “They’re going to invest millions of dollars in steel. It’s an investment, and it’s a partial ownership. But it’ll be controlled by the USA.”
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