Nippon Steel announced its acquisition agreement with US Steel in December 2023. The acquisition price is expected to be approximately 2 trillion yen.
The deal has attracted attention as a major reorganization of the steel industry in Japan and the United States. Former President Trump said in late January that he would not approve the takeover if he became president again, saying, "This is terrible. I would stop it immediately. Absolutely" The company has a comprehensive pension system that subsidizes retirees' medical expenses, and current contract states that this will continue until 2026.