OAN Staff Blake Wolf
4:26 PM – Friday, February 7, 2025
Japanese Prime Minister Shigeru Ishiba met with President Donald Trump on Friday, as Trump cordially requested that Japan close its $68 billion trade deficit with the United States.
Advertisement
“I think it will be very easy for Japan,” Trump said on Friday. “We have a fantastic relationship. I don’t think we’ll have any problem. They want fairness also.”
President Trump also revealed that Japan’s Nippon Steel will halt its $14.1 billion acquisition of U.S. Steel, and will instead “invest heavily” in the U.S.-based company.
“[Nippon’s] going to be doing something very exciting about U.S. Steel. They’ll be looking at an investment rather than a purchase,” Trump stated. “U.S. Steel is a very important company to us. It was the greatest company in the world for 15 years, many years ago, 80 years ago. And we didn’t want to see that leave. And it wouldn’t actually leave. But the concept, psychologically, not good. So they’ve agreed to invest heavily in U.S. Steel as opposed to own it, and that sounds very exciting.”
The details of the announced investment are somewhat unclear.
However, Trump noted that he will “mediate and arbitrate” the deal between the two parties — later updating the American people on what transpired and the details of the engagement.
Ishiba expressed that he understands that President Trump wants a mutually-beneficial trade agreement, and the Japanese PM also added that he was extremely inspired by the GOP president’s immediate “fight! fight! fight!” response to the July 13th assassination attempt on his life in Butler, Pennsylvania.
Former President Joe Biden previously blocked Nippon’s acquisition of the U.S. Steel company — claiming that the deal could damage national security, despite Japan being an ally of the United States.
The two companies responded with a lawsuit as recently as last month, while also submitting a 70-page briefing arguing that the Biden administration blocked the acquisition for certain political reasons.
The companies maintained that they “engaged in good faith with all parties to underscore how the transaction will enhance, not threaten, United States national security,” in a joint statement last month.
The Japanese Prime Minister is the second world leader to visit the White House since Trump returned to office, as Israeli Prime Minister Benjamin Netanyahu visited this week — on Tuesday.
Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here. https://www.oann.com/alerts
Advertisements below
