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Japan and the U.S. have begun trade negotiations, with media reports suggesting Tokyo’s delegation is trying to win a reprieve from the tariffs by pledging to make more cars in the U.S. 

President Donald Trump is holding a rally in Pennsylvania on May 30 to celebrate a details-to-come deal for Japan-based Nippon Steel to invest in U.S. Steel.

The comments are likely a final salvo from David McCall, who has stood in opposition of U.S. Steel’s proposed sale to the Japanese suitor since the deal was announced in December 2023.

“This is a very consequential moment for the G-7 in the world,” Canadian Finance Minister Francois-Philippe Champagne told reporters May 20.

Nippon Steel has bolstered its pledge to invest in U.S. Steel in the event that President Donald Trump approves the Japanese company’s proposed $14.1 billion takeover.

Nippon Steel plans to invest $14 billion in U.S. Steel if the Trump administration approves the merger of the companies, Reuters reported.

Japanese logistics company Nissin said Bain Capital will buy its shares from shareholders for it to go private through a management buyout, in a deal worth about $756 million.

The new U.S. ambassador to Japan arrived in Tokyo on April 18 and said he is optimistic that his country and its key Asian ally will reach a deal in their ongoing tariff negotiations.

Preparations are underway for a second round of tariff talks to take place later this month, Japan’s lead negotiator, Ryosei Akazawa, said in Washington on April 16.

President Donald Trump said he’s joining some of his top economic advisers on April 16 for negotiations at the White House over tariffs and trade with a top Japanese official.