US President Donald Trump has signaled his approval of a partnership between Japan’s Nippon Steel and US Steel, potentially concluding Nippon’s two-year bid to acquire the American steelmaker.
In a social media post, Trump announced that the agreement would involve $14 billion in investments, with the majority allocated over the next 14 months. He also confirmed that US Steel will retain its headquarters in Pittsburgh, Pennsylvania.
The nature of the partnership remains unclear, with speculation on whether it constitutes a merger or a strategic investment. Sources suggest that the revised deal is effectively a buyout of US Steel. Trump’s statement follows the conclusion of a national security review by the Committee on Foreign Investment in the US (CFIUS), which tendered a recommendation to the president.
Nippon Steel’s initial $15 billion takeover bid in December 2023 faced strong opposition from US politicians and the United Steelworkers (USW) union. Former President Joe Biden blocked the deal in January. Trump, who previously vowed to prevent the acquisition, ordered the review in April, but his latest approval marks a shift in stance, paving the way for potential collaboration between the two steelmakers.
