Nippon Steel Faces Challenges Over U.S. Steel Acquisition

Nippon Steel, Japan's leading steelmaker, is experiencing a slight conflict with the U.S. government regarding the golden share authority related to its purchase of U.S. Steel, according to the company's president.

The issue surfaced as the Wall Street Journal reported that the Trump administration had previously stopped U.S. Steel's plant closure plans, utilizing a golden share's authority.

Nippon Steel remains committed to investing in U.S. Steel, including $300 million to modernize operations, despite this disagreement and plans to release a new business strategy soon.

(With inputs from agencies.)