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President Donald Trump announced on Friday that “US Steel will remain in America” and will keep his head office in Pittsburgh thanks to a new “partnership” with Nippon Steel in Japan.
The agreement, which the White House described as a major victory for American manufacturing, is moving away from a complete foreign acquisition and rather provides capital in interior steel operations.
Trump said the agreement would create at least 70,000 jobs and inject $ 14 billion into the US economy over the next 14 months.
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The arrangement allows Japanese Steel to invest in US Steel without fully appropriating.
The company will keep its American name, head office and management team, while using funds to upgrade and develop factories, Politico reported. The partnership focuses on the modernization of operations without putting control of businesses.
High stoves within the meaning of the City Granite works from US Steel Corp to Granite City, Ill., July 5, 2017. (Reuters / David Lawder / Reuters)
This new transaction replaces the previous offer of 14.9 billion dollars in Japanese to acquire American steel.
This proposed sale, announced for the first time in December 2023, quickly drawn strong opposition from both parties and the United Steelworkers Union, According to Reuters. The Trump administration officially blocked the acquisition at the beginning of 2025, citing national security problems concerning the foreign property of critical infrastructure.
Instead of completely abandoning the idea, Trump ordered his team to ask for a compromise. The president publicly urged Japan to “invest, not to buy”, a position it reiterated during an appearance in February alongside the Japanese Prime Minister. A new review Directed by the United States (CFIUS) commission of foreign investments (CFIUS) has erased the revised agreement on Friday.
Trump’s announcement was welcomed on Friday by Pennsylvania Governor Josh Shapiro, who said he had worked closely with Nippon, US Steel and the White House since the first proposal for the agreement.
“Since the day this proposed transaction has been announced, the Lieutenant-Governor [Austin] Davis and I worked with the management of Nippon and US Steel, Local Labor and Federal, State and Local Partners to put pressure for the best agreement to keep the United States in the head office in Pittsburgh, protect union jobs and secure the future of steel in the west of Pennsylvania, “said Shapiro in a press release.
“Throughout the process, I argued that my priority was to keep and develop jobs here in Pennsylvania and get the biggest investment we could for our Commonwealth – as I expressed directly to President Trump when we discussed this transaction in recent days.
Mike Pompeo defends Us Steel, Nippon Deal, urges Trump to do the same
Nippon Steel joins US Steel in a new investment agreement approved by President Donald Trump. (Reuters / Issei Kato, File / Reuters)
“Now that President Trump, who has a single decision -making authority in the CFIUS process, has expressed support for the agreement, we have the possibility of providing historical investments, ensuring that the future of American Steelmaking continues to browse Mondaly workers while the headquarters of our steel is in Pittsburgh and our workers, Pennsylvania, and their innovation. “
Japanese Steel praised the administration’s decision, affirming in a statement: “Japanese Steel applauds President Trump for his daring action to approve our partnership with Us Steel”.
“We share the Trump administration’s commitment to protecting American workers, the American steel industry and US national security,” said the company, describing the partnership to “change the situation for us Steel and all its stakeholders, including the American steel industry and the wider American manufacturing base”.
Us Steel echoes this message on Friday, crediting Trump’s direct participation in the conclusion of the agreement.
President Donald Trump signs decrees in the oval office. (Jabin Botsford / The Washington Post via Getty Images / Getty Images)
“President Trump is a bold leader and a businessman who knows how to get the best offer for America, American workers and American manufacturing,” the company said in a statement. “Us Steel will remain American, and we will grow larger and stronger thanks to a partnership with Nippon Steel which provides massive investments, new technologies and thousands of jobs over the next four years.
“Us Steel greatly appreciates the leadership of President Trump and personal attention in the future of thousands of steel workers and our emblematic business.”
Japanese Steel is committed to improving on a large scale of factories located in Pennsylvania, Indiana, Minnesota and Arkansas, Reuters reported.
When Nippon Steel made his first offer for US Steel at the end of 2023, former president Joe Biden blocked this decision.
Japanese, which already operates smaller companies in the United States, plans to bring advanced steel technology to US Steel factories. According to company officials cited by Reuters, this includes environmental cleaner methods and high -performance alloys that will make American plants more competitive worldwide.
US Steel’s shares jumped more than 20% after the president’s order for a new exam, according to Reuters. The American Chamber of Commerce praised the agreement, claiming that it strengthens domestic production and built stronger economic ties with a key ally.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| X | United States Steel Corp. | 52.17 | +9.27 |
+ 21.61% |
Not everyone is convinced. The United Steelworkers Union, which had praised Trump for blocked the original acquisition, remains suspicious of foreign participation. In a statement cited by USW.ORG, the president of the USW, David McCall, said that although the partnership is better than a buyout, the union still wants more solid guarantees to protect US jobs and production in the long term.
He plans to visit us at the Pittsburgh headquarters in our Steel on May 30 for a rally celebrating the agreement.
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“From Pennsylvania to Arkansas, and from Minnesota to Indiana, American Made is back,” wrote Trump on Truth Social.
The White House did not immediately respond to the request for comments from Fox Business.
