Trump announces Nippon Steel-U.S. Steel ‘partnership’ deal

U.S. President Donald Trump points as he boards Air Force One en route to New Jersey, at Joint Base Andrews, Maryland, on Friday. | REUTERS

by FRANCIS TANG
May 24, 2025

U.S. President Donald Trump has announced a “partnership” between Nippon Steel and U.S. Steel, with press reports indicating that this signals the approval of a takeover of the iconic American company by the Japanese steelmaker.

“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 in a Truth Social post Friday.

“This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $$14 Billion to the U.S. Economy,” Trump continued, while adding the investment will occur in the next 14 months.