Water Tower at the United States Steel Corp Edgar Thompson works the steel factory in Pradock, Pennsylvania, on September 4, 2024.
Justin Meriman Bloomberg Gety pictures
On Friday, President Donald Trump has cleansed a merger Steel USA and Nippon steelAfter the former Japanese steel maker was banned to obtain its American rival 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 to the US economy,” Trump said in a post on the social media platform. Social truth.
The president said that the headquarters of the United States will remain in Pittsburg and the largest part of the investment will take place over the next 14 months. The US Steel shares rose by more than 20 % to close at $ 52.01 per share after Trump’s announcement.
President Joe Biden Nippon Steel prevented from buying US steel for $ 14.9 billion in January, citing National security concerns. Biden said at the time that the acquisition will create a danger to providing necessary chains for the United States
Trump, however, is a A new review of the proposed acquisition In April, the US Foreign Investment Committee was directed to determine “whether the additional procedure in this matter may be appropriate.”
Trump said he would carry a gathering in the United States in Pittsburgh on May 30.
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