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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