Nippon Steel Corporation (NPSCY.US) president recently stated that the company has subtle disagreements with the US government regarding "golden share" powers related to its acquisition of US Steel. Media reports last week indicated that the Trump administration exercised so-called "golden share" authority to block US Steel's plan to shut down production at one of its Illinois facilities.

Nippon Steel Corporation president Eiji Hashimoto responded to the matter, saying: "There are subtle differences in perspectives between both parties regarding the national security agreement and golden share powers." While he did not elaborate on details, he noted that the US side's recent actions reflect the Trump administration's policy orientation toward protecting domestic production bases and employment.

Hashimoto emphasized: "Through implementing specific investment projects, we will focus on enhancing US Steel's competitiveness and advancing our partnership."

In June this year, Japan's leading steel company completed its $14.9 billion acquisition of US Steel, agreeing to grant the US government special powers, thereby ending an 18-month transaction standoff. Under the national security agreement reached with the Trump administration, Washington obtained non-economic "golden share" interests.

US Steel announced on Wednesday that its board has approved a $300 million next-phase capital investment plan, which is part of Nippon Steel Corporation's $11 billion investment commitment. Approximately $100 million will be allocated to the slag recycling project at the Edgar Thomson plant in Pennsylvania, while about $200 million will be used for upgrading the hot strip mill at the Gary Works facility in Indiana. The company stated that these projects aim to modernize operations and enhance production capacity.

Hashimoto revealed that Nippon Steel Corporation plans to announce a new medium-to-long-term business strategy for both US Steel and Nippon Steel Corporation itself by the end of this year.