Nippon Steel’s $14.1 billion bid for United States Steel Corp. is more important than ever as tariffs and rising Chinese exports reshape the global market for the metal, according to a top executive at the Japanese firm.

Japan's Nippon Steel 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 efforts to push through Nippon Steel’s proposed takeover come as Japanese negotiators are seeking to lower a 24 per cent tariff on the country’s imports into the US introduced by the Trump administration. Japanese officials signalled their intent last week to hold out for a better agreement.