President Trump has given the green light to an investment deal between United States Steel and Japan’s Nippon Steel. While the details of the deal have not been finalized Nippon will infuse fourteen billion dollars into US Steel. The investment includes badly needed upgrades to the Mon Valley Works near Pittsburgh and the construction of a new mill in a yet-to-be-determined location.
US Steel’s headquarters will also remain in Pittsburgh.
Trump says Japanese investment in US Steel can go ahead: ‘Congratulations to all!’ https://trib.al/lgG8NZI
— New York Post (@nypost) May 23, 2025
Nippon originally tried to acquire US Steel in 2023 and had reached an agreement to buy the ailing company outright in 2024. In one of the last official acts of his administration, Joe Biden (or whoever was actually running the White House at the time) blocked the sale, citing national security concerns.
After taking office, President Trump indicated that he was also against foreign ownership, but unlike Biden, he was willing to negotiate and offered to mediate negotiations between the companies. Today’s announcement was the result of those negotiations.
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