On the 30th (local time), U.S. President Donald Trump emphasized that the negotiations regarding the acquisition of U.S. Steel by Japan Steel is an 'investment,' not an 'acquisition,' stating that a final agreement has not yet been reached.
After holding a large-scale rally at the U.S. Steel plant on the outskirts of Pittsburgh, Pennsylvania, President Trump returned to Washington D.C. and, when meeting with reporters, answered the question, 'Is Japan Steel acquiring U.S. Steel?' by saying, 'This is an investment,' according to the White House press pool.
He added, 'It is controlled by the United States, and the board is also controlled. More importantly, they are investing money in facilities (brick and mortar).' He stated, 'They can't take that away. What can they do? Move it to Japan? That won't happen.'
When repeatedly asked, 'Will they (Japan Steel) still end up owning U.S. Steel?' he did not provide a clear answer but noted, 'I have rejected this proposal four times, and I have become very pleased when they finally did it right.'
He announced that Japan Steel is expected to invest $17 billion (approximately 23.5 trillion won) in the new steel mill, which is more than the $14 billion investment he mentioned during his speech at the U.S. Steel plant.
However, he mentioned that negotiations between Japan Steel and U.S. Steel have not yet been finalized, stating, 'I have to approve the final agreement with Japan Steel, and I have not yet seen that final agreement.'
When asked if this negotiation would help U.S.-Japan trade talks, President Trump said, 'Japan wants to have a trade agreement. It has nothing to do with it, but it won't hurt.'
Regarding the State Department's policy to actively cancel visas for Chinese individuals studying in the U.S., President Trump said, 'They will be fine. We are just trying to verify individual students.'