Article

2025-05-25 Economy

Trump Announces US Steel–Nippon Partnership

[Epoch Times] President Donald Trump announced on May 23 that he has approved the "planned partnership" between U.S. Steel and Japan’s Nippon Steel, stating that the company will stay in Pittsburgh and is expected to create at least 70,000 jobs.

"I am proud to announce that, after much consideration and negotiation, U.S. Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh," Trump wrote on Truth Social.

Nippon Steel, the world’s fourth-largest steelmaker, announced in December 2023 that it would purchase U.S. Steel for $14.9 billion in an all-cash agreement. A few months later, U.S. Steel shareholders approved the takeover bid.

However, President Joe Biden opposed the deal, citing national security concerns.

"U.S. Steel has been an iconic American company for more than a century, and it should remain totally American," Biden told union workers during a speech at the United Steelworkers headquarters in Pittsburgh on April 17, 2024.
Ironic, Joe and Trump agreeing. Except Trump made something positive happen.
In February, standing alongside Japanese Prime Minister Shigeru Ishiba, Trump said Nippon Steel would "invest heavily in U.S. Steel, as opposed to [owning] it," and welcomed the proposed capital infusion. "Investment is mutually beneficial," Ishiba said during the joint press conference at the White House.

"Japanese technology will be provided, and better quality products will be manufactured in the United States."

Posted by Bobby 2025-05-25 00:00|| || Front Page|| ||Comments [89 views ] Top

#1 Nippon will help US Steel in my opinion.

Posted by Super Hose 2025-05-25 08:20|| 2025-05-25 08:20|| Front Page || Comments Top

#2 ...I think this is a very good thing, and I hope it works. My concern is that USS' infrastructure might be an issue - a lot of it is old.

Mike

Posted by MikeKozlowski 2025-05-25 10:09|| 2025-05-25 10:09|| Front Page || Comments Top

#3 Nippon has probably figured that investment into the purchase. It could be like NUMMI was for the Fremont GM plant.

Posted by Super Hose 2025-05-25 11:04|| 2025-05-25 11:04|| Front Page || Comments Top

#4 This is different than buying American farmland ... I guess.

Posted by Skidmark 2025-05-25 12:00|| 2025-05-25 12:00|| Front Page || Comments Top

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