President Trump approves Nippon Steel and U.S. Steel partnership
It has been revealed that President Trump has approved the partnership between Nippon Steel and U.S. Steel, a plan the U.S. government had previously expressed reservations about. Both President Trump and both companies have referred to it as a 'partnership' rather than an 'acquisition.'
US Steel Statement on President Trump's Leadership - www.ussteel.com
Trump approves Nippon purchase of US Steel - POLITICO
https://www.politico.com/news/2025/05/23/trump-approves-nippon-purchase-us-steel-00368171
US Steel Acquisition Plan President Trump intends to approve partnership with Nippon Steel | NHK | Nippon Steel US Steel
https://www3.nhk.or.jp/news/html/20250524/k10014815311000.html
President Trump posted the following statement on his Truth Social account regarding the Nippon Steel and U.S. Steel cases:
'After much thought and consultation, I am proud to announce that U.S. Steel will stay in America and maintain its headquarters in Pittsburgh. For many years, the name United States Steel has been synonymous with greatness, and now it will be again. This is a planned partnership between U.S. Steel and Nippon Steel that will create at least 70,000 jobs and add $14 billion to the American economy. The majority of the investment will occur over the next 14 months. This will be the largest investment in the history of Pennsylvania. My tariff policies will ensure that steel is Made in America again, and forever. From Pennsylvania to Arkansas, and Minnesota to Indiana, Made in America is coming home. We look forward to a great gathering on May 30, 2025, at U.S. Steel headquarters in Pittsburgh. Congratulations, everyone!'
Prior to Trump's announcement, U.S. Steel praised Trump, saying, 'President Trump is a fearless leader and a businessman who knows how to get the best deal for America, American workers and American manufacturing.'
'U.S. Steel will remain an American company and through our partnership with Nippon Steel, we will grow bigger and stronger with significant investment, new technology and thousands of jobs over the next four years. U.S. Steel greatly appreciates President Trump's leadership and personal consideration for our thousands of steel workers and the future of our iconic company,' he said.
Nippon Steel also issued a statement saying, 'We express our deepest respect for President Trump's wise decision to approve the partnership between Nippon Steel and U.S. Steel.'
Nippon Steel's takeover of U.S. Steel was formally blocked by former President Biden in January 2025, with U.S. Steel CEO David Britt describing Biden's statements as 'shameful and corrupt.'
US Steel CEO angered by President Biden's move to block Nippon Steel's acquisition of US Steel: 'Shameful and corrupt' and 'Chinese Communist Party leadership will be pleased' - GIGAZINE
Related Posts:
in Note, Posted by logc_nt