TOKYO, June 19 (Reuters) - The U.S. administration's
policy shift to introduce high tariffs will increase the
strategic importance of Nippon Steel's ( NISTF ) business
development in the U.S. market, the top Japanese steelmaker's
CEO, Eiji Hashimoto, said on Thursday.
Hashimoto was speaking at a press conference in Tokyo a day
after Nippon Steel ( NISTF ) closed its $14.9 billion acquisition of U.S.
Steel, confirming an unusual degree of power for
President Donald Trump after the Japanese company's 18-month
struggle to close the purchase.
The companies also disclosed details of a national security
agreement inked with the Trump administration, which gives the
president the authority to name a board member as well as a
non-economic golden share.
The measures represent an unusual level of control conceded
by the companies to the government to save the deal, after a
rocky path to approval spurred by high-level political
opposition.