U.S. President Donald Trump’s pivot to champion Nippon Steel’s bid to buy U.S. Steel raises the prospect of fresh positive momentum for Japan’s sluggish negotiations with the U.S. over tariff relief.
While the contours of the proposed steel deal remain vague, Trump is set to hold a rally in Pittsburgh on Friday to tout the deal as a victory for his tariff strategy and American workers. As part of the expected deal, the U.S. government would hold de facto veto rights on some company decisions through a so-called golden share.
The apparent breakthrough, and the opportunity it gives Trump to present it as a win, raises the possibility that Japan could get some new traction in its bid to get tariffs on autos and other exports removed, some analysts say.
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