Trump announces planned partnership for U.S. Steel and Nippon Steel
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Update time : 2025-05-26 20:02:39
US President Trump announced a planned partnership between U.S. Steel and Japan's Nippon Steel, saying that U.S. Steel will maintain its headquarters in Pittsburgh.
Nippon Steel's nearly US$15 billion acquisition bid was previously blocked by former US President Biden, and it was then subject to another national security review by the Committee on Foreign Investment in the United States (CFIUS) after Trump took office as president.
Trump said this planned partnership will create at least 70,000 jobs and inject US$14 billion into the US economy. Details on the partnership's ownership structure remain unclear. Both U.S. Steel and Nippon Steel praised Trump's decision.
U.S. Steel stated it would remain American and grow bigger and stronger through the collaboration, which will bring massive investment, new technologies, and thousands of jobs over the next four years.
