United States Steel (X) is climbing 4% today after President Donald Trump stated that Nippon Steel would invest in the company but not acquire it. Additionally, Trump announced that he would impose a 25% tariff on steel imports into the U.S.. The New Plan for United States Steel Speaking on Friday, Trump reported that Japan's Nippon Steel would give up its efforts to buy United States Steel. The Japanese firm will instead "invest heavily" in X but refrain from taking a stake of over 50% in it, the president said. An aerial view of an industrial plant manufacturing welded pipes and tubes from stainless steel and galvanized carbon. Trump noted that he would meet this week with Nippon's head to discuss the matter. Japanese Prime Minister Shigeru Ishiba appeared to endorse Trump's plan yesterday, saying “This isn’t a simple purchase of US Steel. It will continue to be an American company, managed by Americans and have American employees.” Trump Intends to Levy New Tariffs on Steel Imports The president said yesterday that he would unveil today a 25% tariff on all steel imports into the U.S. "Any steel coming into the United States is going to have a 25% tariff,” he said yesterday. The move could enable United States Steel and other American steelmakers to charge more for their steel and sell more of the metal. While we acknowledge the potential of X, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than X but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ ALSO 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock Disclosure: None. This article is originally published at Insider Monkey.