President Donald Trump approved a partnership between US Steel and Japan’s Nippon Steel, ending months of uncertainty over a proposed $14.9 billion merger first announced in December 2023. Initially opposed to foreign ownership, Trump supported a revised deal that keeps US Steel headquartered in Pittsburgh and includes a National Security Agreement (NSA) with the U.S. government. The companies pledged $11 billion in U.S. investments by 2028, claiming the deal will protect or create over 100,000 jobs. The move follows a national security review by CFIUS.
