Donald Trump supports Nipon’s steel partnership with the United States Steel

Open the newsletter to watch the White House for free

Your guide to what the second period of Trump means to Washington, business and the world

Donald Trump widely supported the Nippon Steel deal worth $ 15 billion to buy US steel, in a clear reflection of his opposition to the transaction across the border that was banned by Joe Biden on national security.

“This will be a planned partnership between the United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add 14 billion dollars to the American economy,” wrote on a social media president on Friday. He added that the “largest part” of this additional investment will be made in the next 14 months.

TrumpThe post -participation partnership in companies was considered “implicit approval” by the administration to acquire $ 15 billion and agreed at the end of 2023, according to a person familiar with the negotiations.

Trump said that the American company will remain its headquarters in Pittsburgh, Pennsylvania, where it was headquartered for more than a century. He plans to host a march in the city on May 30.

Trump opposed his planned acquisition on Nippon Steel Steel USA While the voters with blue collaborators in Pennsylvania were winning the presidential campaign last year, saying it would be a “terrible thing” if he was sold to a foreign entity.

While his position on Friday was considered a supporter, the person familiar with negotiations between companies said that more meetings are needed to give the president’s approval.

In a statement on Friday, the United States expressed its appreciation to the “Trump” and “personal interest”.

“President Trump is a bold leader and a businessman who knows how to get the best deal for America, American workers and American manufacturing,” he said. “The United States will remain an American steel, and we will die larger and stronger through a partnership with Nippon Steel that brings huge investments, new technologies and thousands of jobs over the next four years.”

Nippon Steel also thanked the US President for his support for the deal.

She said: “The partnership between Nippon Steel and US Steel is a changing games-for us from steel and all stakeholders, including the American steel industry and the broader American industrial base.”

The White House did not respond to suspension requests.

The union of the United Solid Workers, which last year praised Trump due to the opposition of the Nippon Steel offer, said it was concerned that “a foreign company with a busy and proven record of violating our commercial laws will lead to an increase in the ability of local steel making and the exposure of thousands of good jobs.”

The $ 15 billion deal has been excluded in political concerns and national security concern since the agreement was reached at the end of 2023.

Then President Biden, Vice President Kamala Harris and Trump, opposed the deal to the campaign’s path.

Nippon Steel adheres to investing more capital in business in an attempt to obtain political and political support. Last week, the steel maker agreed to his four -way investments worth $ 2.7 billion in a final boost to prepare support from the Trump administration.

The deal standards, which were long described as the American company’s unit by Nippon Steel, were not immediately clear.

Trump’s support for Nippon Steel is a call that he started with Japanese Prime Minister, Shigeru Ishiba, earlier on Friday. Ishiba later told reporters that a planned meeting with the US President in June on the sidelines of the Group of Group’s leaders in Canada would be a “teacher” in the bilateral talks.

Japan and the United States remain closed in commercial negotiations in which Ishiba remains “fixed” in adhering to a complete exemption from American definitions, despite the escalating pressure of the tension of a deal. According to the officials close to the negotiations, the talks have increasingly focused on the investment that Japan could bring to the United States.

The main negotiator of Japan, Riosi Akazawa, held talks in Washington on Friday with US Minister of Trade Howard Lootnick and told the correspondents that the Trump administration “is increasingly understanding the importance of Japan for the American economy.”