President Trump has given the green light to an investment deal between United States Steel and Japan's Nippon Steel. While the details of the deal have not been finalized Nippon will infuse fourteen billion dollars into US Steel. The investment includes badly needed upgrades to the Mon Valley Works near Pittsburgh and the construction of a new mill in a yet-to-be-determined location.
US Steel's headquarters will also remain in Pittsburgh.
Trump says Japanese investment in US Steel can go ahead: ‘Congratulations to all!’ https://trib.al/lgG8NZI
— New York Post (@nypost) May 23, 2025
Nippon originally tried to acquire US Steel in 2023 and had reached an agreement to buy the ailing company outright in 2024. In one of the last official acts of his administration, Joe Biden (or whoever was actually running the White House at the time) blocked the sale, citing national security concerns.
After taking office, President Trump indicated that he was also against foreign ownership, but unlike Biden, he was willing to negotiate and offered to mediate negotiations between the companies. Today's announcement was the result of those negotiations.
Donald Trump Truth Social 05.23.25 03:25 PM EST I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh. For many years, the name, “United States Steel” was synonymous with Greatness, and now, it will be again. This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy. 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. 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!
— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) May 23, 2025
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The President's comment:
I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh. For many years, the name, “United States Steel” was synonymous with Greatness, and now, it will be again. This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy. 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. 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!
The investment, promise of new jobs, and the continued operation of the Mon Valley Works were welcomed news in Pennsylvania.
I applaud President Trump for negotiating a record investment and record job creation for Pennsylvania and America’s steel industry through a landmark partnership between the United States of America, U.S. Steel, and Nippon Steel. 🇺🇸 https://meuser.house.gov/media/press-releases/congressman-meuser-celebrates-president-trumps-landmark-action-keep-us-steel
— Congressman Dan Meuser (@RepMeuser ) May 23, 2025
Vowed to jam that up almost a year and a half ago and we did. The original deal was a death sentence for Mon Valley steel. Nippon coughed up an extra $14B. This is why we fight for the union way of life, and I will continue to support @steelworkers no matter the cause.
— U.S. Senator John Fetterman (@SenFettermanPA) May 23, 2025
A huge victory delivered for Pennsylvania by @realDonaldTrump . The future is bright.
— Dave McCormick (@DaveMcCormickPA) May 23, 2025
The economic benefits of the deal will extend well beyond Pennsylvania.
Huge news for Arkansas - home to US Steel’s newest and most efficient facility and part of what helps make Arkansas home to the top steel-producing county in America. This is the Art of the Deal: more investment, more jobs, and US Steel stays in US hands!
— Sarah Huckabee Sanders (@SarahHuckabee) May 23, 2025
Indiana is steel country, US Steel staying home means more jobs for Hoosiers and a BOOM to our economy. Thank you President Trump!
— Rep. Marlin Stutzman (@RepStutzman) May 23, 2025
US Steel stock jumped $9.11 after the announcement, closing 30% higher for the week.
“Trump can now rightly claim credit for saving these communities & the jobs of the workers who, unlike their union leadership, served as one of his most loyal sources of support since he first ran for president. The future is now bright in Pennsylvania,” https://t.co/mWovPL6Zrp
— ZitoSalena (@ZitoSalena) May 23, 2025
This deal promises to infuse billions into the economy, save thousands of existing jobs, and create thousands more.
The future is bright indeed.
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