*

Nippon Steel ( NISTF ) seeking meeting with US Treasury Secretary,

who

chairs CFIUS

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Nippon Steel ( NISTF ) says it sees approval if President Trump

fully

understands deal's value

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Final decision on transaction expected by June 5

By Yuka Obayashi and Ritsuko Shimizu

TOKYO, May 21 (Reuters) - Japan's Nippon Steel ( NISTF )

remains committed to acquiring a full stake in U.S. Steel,

a senior executive said, adding that it is seeking a meeting

with U.S. Treasury Secretary Scott Bessent to clarify President

Donald Trump's stance on the deal.

The steelmakers face a May 21 deadline for the completion of

a renewed national security review by the Committee on Foreign

Investment in the US (CFIUS) of the proposed $15 billion merger,

which was blocked by former President Joe Biden on national

security grounds in January following a prior review.

In April, Trump directed the CFIUS to reassess the deal,

raising hopes of a reversal, although he said in February the

deal would take the form of an investment instead of a purchase.

Trump is expected to decide the fate of the transaction by June

5.

"Our intention to pursue a full buyout remains unchanged,"

Nippon Steel ( NISTF ) Vice Chairman Takahiro Mori, a lead negotiator on

the deal, told Reuters on Tuesday.

He said only full ownership would allow Nippon Steel ( NISTF ) to

share its core technology and strengthen U.S. Steel, not in a

joint venture.

"There is no free technology," Mori said.

He said Nippon Steel ( NISTF ) has requested a meeting with Bessent,

who chairs CFIUS, to better understand Trump's position ahead of

a final decision.

On Tuesday, Reuters reported that Nippon Steel ( NISTF ) plans to

invest $14 billion in U.S. Steel's operations, including up to

$4 billion in a new mill, if the Trump administration green

lights its bid for the iconic U.S. company, according to a

document and three people familiar with the matter.

Mori declined to comment on details of the CFIUS talks, but

said any increase in investment would be tied to higher returns

and would not strain the company's finances.

"This deal will make U.S. Steel and United States stronger,"

Mori said, adding that it aligns "100% with Trump's policy," by

boosting foreign investment and domestic manufacturing.

"My view is, if President Trump fully understands (strategic

significance), he will approve it," Mori said, noting plans to

preserve U.S. Steel's name, headquarters, and integrated

operations.

The majority of the new board of U.S. Steel would be

American, with trade and manufacturing capacity issues overseen

by three independent directors appointed by CFIUS, effectively

the U.S. government, addressing national security concerns, he

said.

The world's No.4 steelmaker expects net profit to fall 43%

in the fiscal year ending March 2026, hit by slumping global

steel prices driven by China's excess production and exports and

impact from U.S. tariffs.