Swedish steelmaker SSAB has terminated financing talks with the US government on building a green steel plant in the US because US President Donald Trump plans to roll back policies aimed at accelerating decarbonization projects. 

This has further influenced the US Department of Energy's (DOE) commitment to provide SSAB with US$500 million in funding by 2023 to build steel manufacturing plants in the US using HYBRIT technology.

SSAB spokesperson said the company has stopped negotiating a cooperation agreement with the US DOE, but it will continue to advance its decarbonization projects in the US.