The partnership comes after Trump ordered a review of the possible sale of U.S. Steel to Nippon Steel in April. Former President Joe Biden blocked the $14.9 billion sale of U.S. Steel to Nippon Steel, citing national security concerns and risks to U.S. supply chains. Now, the two companies will form a “planned partnership” that will result in 70,000 jobs, according to the president.
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U.S. Steel is facing major losses, reporting a net loss of $116 million in the first quarter of 2025, but the steel industry remains an important part of the economy in America, employing over 44,000 people.
In December, one month before Biden blocked the deal, Trump said he also opposed the sale to the foreign company, vowing to “make U.S. Steel Strong and Great Again.” The White House confirmed that Trump received a recommendation from the Committee on Foreign Investment in the U.S., which reviewed the proposed deal between the American and Japanese steel companies, Bloomberg reported.
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“The bulk of that Investment will occur in the next 14 months. This is the largest Investment in the History of the Commonwealth of Pennsylvania,” Trump added. “My Tariff Policies will ensure that Steel will once again be, forever, MADE IN AMERICA. From Pennsylvania to Arkansas, and from Minnesota to Indiana, AMERICAN MADE is BACK. I will see you all at US Steel, in Pittsburgh, on Friday, May 30th, for a BIG Rally. CONGRATULATIONS TO ALL!”
Tim Pearce contributed to this report.
* Original Article:
https://www.dailywire.com/news/made-in-america-trump-says-u-s-steel-will-remain-in-pittsburgh-partner-with-japanese-company