U.S. President Trump gives green light to Japanese acquisition of U.S. Steel corporation.
President Trump Approves U.S. Steel-Nippon Steel Partnership, Promising Thousands of Jobs and Economic Boost
In a significant turn of events, President Donald Trump has announced a deal between U.S. Steel and Nippon Steel. The "planned partnership," as Trump described it, will create at least 70,000 jobs and inject $14 billion into the U.S. economy, according to Trump's statements on Truth Social. A detailed breakdown of the deal's terms and specifics has yet to be released.
President Trump announced the agreement on May 23–24, 2025, overturning a previous national security-based block on the sale of U.S. Steel by Nippon Steel. Nippon Steel has welcomed Trump's decision, while the White House has yet to comment on the announcement.
The decision comes as a relief to investors, who had been waiting for a resolution to the takeover dispute since late 2023. One investor stated, "We understood how Donald Trump ticks and used it to our advantage." Most of the investment and job creation resulting from this partnership is expected to occur within the next 14 months, with Trump planning a rally at U.S. Steel in Pittsburgh next Friday.
The agreement is set to secure more than 11,000 jobs in Pennsylvania and support the creation of a further 14,000 positions. Senator Dave McCormick of Pennsylvania's U.S. state has hailed the move as a "big win for America and the U.S. Steel Corporation."
In late 2023, Nippon Steel proposed acquiring U.S. Steel for $14.9 billion, a bid that was initially blocked by former President Joe Biden on national security grounds. However, just before handing over power to Trump, Biden rescinded the order requiring Nippon to withdraw its takeover offer. On April 7, Trump ordered a fresh review of the deal, which led to the agreement announced recently.
Despite the optimistic outlook, it is important to note that the job and economic impact claims made by the administration and involved parties are projections rather than actualized outcomes. The full effects of the partnership are yet to be realized, with no independent verification that the promised 70,000 jobs have been created or $14 billion added to the U.S. economy. The agreement is figuratively a "partnership" rather than a straightforward acquisition, with Nippon set to invest heavily in U.S. Steel's facilities, management, and operations, while U.S. Steel continues to operate under its American name, headquarters, and leadership.
Source: ntv.de, mau/rts
The partnership between U.S. Steel and Nippon Steel, as approved by President Trump, promises a significant investment in the industry, particularly in the business sector, with a planned injection of $14 billion into the economy. The community policy and employment policy are expected to witness substantial changes, as the deal could potentially create up to 70,000 jobs, with more than 11,000 in Pennsylvania alone. However, it's essential to note that these job and economic impact projections have not yet been realized, and the full effects of the partnership are yet to be fully understood.
