Nippon Steel Corp. aims to complete its acquisition of United States Steel Corp. by the end of the year. Recently, Takahiro Mori, Vice Chairman and Executive Vice President of Nippon Steel, stated at a press conference that the company is currently moving forward with this acquisition, saying, “We can complete the deal before Trump’s inauguration in January.”

Trump won the election and is set to assume office for a non-consecutive second term. Both Trump and outgoing President Joe Biden previously expressed their intent to block the acquisition of the iconic American company by Japan’s largest steelmaker. Nevertheless, Nippon Steel is pushing to finalize the acquisition before Trump takes office.

Currently, the proposed acquisition is undergoing a review by the Committee on Foreign Investment in the United States (CFIUS), which is expected to continue until late December. Mori mentioned that the review process is “progressing smoothly.”

Even if the Biden administration ultimately approves the acquisition, there is still a possibility that the Trump administration may overturn the decision once he takes office. Mori pointed out that the previous Trump administration stated it would attract foreign investment and create new jobs, and this acquisition aligns with that policy direction.