“The steel United States will remain in America” ​​after a partnership with Nippon

president Donald Trump It announced on Friday that “US Steel will remain in America” ​​and maintains its headquarters in Pittsburgh through a new “partnership” with Nippon Steel in Japan.

The deal, which the White House described as a major victory for American manufacturing, turns away from the full foreign acquisition process and instead brings new capital in local steel operations.

Trump said the agreement will create at least 70,000 jobs and achieve 14 billion dollars in the US economy for the next 14 months.

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The Nippon Steel arrangement allows investment in the United States steel without taking full ownership.

The company will retain the American name and the leadership team, while using the money to upgrade and expand the factories, Politico mentioned. The partnership focuses on updating operations without handing over corporate control.

This new deal replaces the previous Nippon offer, which is worth $ 14.9 billion to directly acquire US steel.

This proposed sale, which was announced for the first time in December 2023, attracted severe opposition from both sides and the Union of United Nations, According to Reuters. The Trump administration has officially prevented the acquisition in early 2025, noting concerns about national security about foreign ownership of critical infrastructure.

Instead of completely giving up the idea, Trump directed his team to get a compromise. The President publicly urged Japan to “invest, not buy”, a position he repeated during the appearance of February alongside the Japanese Prime Minister. New review The US Foreign Investment Committee (CFIUS) led the review agreement on Friday.

Trump’s announcement was welcomed on Friday by Pennsylvania Governor Josh Shapiro, who said he worked closely with Nippon, US Steel and White House since the proposal of the deal for the first time.

“Since the day the proposed deal has been announced, I and I, Austin Davis, with the leadership of Nippon and US Steel, local workers, federal, state and local partners to press for the best deal to keep us headquarters in Pittsburg, and Prottip Interian Jobs, and ensure the future of steel industry in western Pennsylvania. , “

“Throughout the entire process, I confirmed that my priority is to keep jobs here in Pennsylvania and get the largest investment that we can be able to on the Commonwealth – as I expressed President Trump directly when we discussed this deal in recent days.

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“Now that President Trump, who has the only decision -making power in the CFIUS process, has expressed his support for the deal, we have the opportunity to provide historical investments, ensure the future of the American steel continues to run during the Moon Valley while the headquarters of the United States in Pittsburgh, and get our workers here, here in Pennsylvania, and continue to lead the world and their skills.”

Nippon Steel praised the management decision, saying in a statement: “Nippon Steel praises President Trump for his bold work to agree to our partnership with the United States.”

The company said: “We share the commitment of the Trump administration to protect American workers, the American steel and US national security,” and described the company as “a changing games for the United States and all stakeholders, including the American steel industry and the broader American industrial base.”

The United States Steel chanted this message on Friday, with Trump’s direct participation in securing the deal.

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

“The United States highly estimates the leadership of President Trump and the personal interest of thousands of steel workers and our iconic company.”

Nippon Steel is committed to widespread improvements to the plants in Pennsylvania, Indiana, Minnesota and Arkansas.

When Nippon Steel made its initial presentation of US Steel in late 2023, former President Joe Biden prevented this step.

NIPPON, which already runs smaller projects in the United States, plans to bring advanced steel technology to the US Steel factories. According to the officials of the company, which was reported by Reuters, this includes environmental cleaner and high -performance alloys that make American plants more competitive in the world.

US steel shares More than 20 % increased after the president ordered a new review, according to Reuters. The American Chamber of Commerce praised the agreement, saying that it enhances local production and adopts stronger economic relations with a major ally.

index	protection	last	Changing	% Change
x	The United States Steel Corp.	52.17	+9.27	+21.61 %

Not everyone is convinced. The Union of the United Nations, which praised Trump for the prevention of the original acquisition, remains cautious about foreign participation. In a statement mentioned by USW.org, USW David McClic President said that although the partnership is better than the acquisition, the Union still wants stronger guarantees to protect American jobs and production in the long run.

He plans to visit Steel’s Pittsburgh headquarters on May 30 to celebrate the agreement.

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Trump wrote on the social truth: “From Pennsylvania to Arkansas, and from Minnesota to Indiana, America has returned.”

The White House did not immediately respond to the Fox Business request for comment.