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US President Donald Trump receives a Golden Slam with his name on him during a visit to the US Steel – Irvin works in West Miflin, Pennsylvania, May 30, 2025, to mark the “partnership” between Nippon Steel and US Steel.
Saul Loeb | AFP | Ghetto images
President Donald Trump has issued Enforcement order On Friday, he approved the US merger with Steel with Japanese Nippon Steel after companies signed a national security agreement with the US government.
Us Steel and Nippon said the National Security Agreement will give the US Government a “golden share” and make certain management, domestic and trade commitments. Companies have not developed what powers the US government will have with its gold share.
“All the necessary regulatory approvals for the partnership have already been obtained. The partnership is expected to be finalized immediately,” US Steel and Nippon in A said statementS
The National Security Agreement has called on Nippon to make $ 11 billion new investments by 2028, including initial Greenfield project costs, which will be completed after 2028, companies said.
Trump said on Thursday that the golden stake gives the president “common control“Without developing. Pennsylvania Senator Dave McCormick told CNBC last month that the gold share will effectively allow the government to Control a number of seats on the boardS
Trump opposed US steelThe controversial Nippon’s sale in the conclusions of the 2024 presidential election, as Republicans and Democrats leaned against US companies from foreign competitors.
But Trump began to soften his opposition to the absorption after taking office, Order a new review of the deal in April. President Joe Biden has blocked Nipon’s sale in his last days of service, citing fears about national security, although Japan was a close ally.
Trump avoids calling the deal acquisition or merger, describing it as “partnership“In a publication on May 23 on its social media platform TRUTH SOCIAL. He insisted that US steel would remain” controlled by the US “during a speech in front of workers In one of the plants of the company outside Pittsburgh on May 30.
Us Steel has made it clear that this will become a “fully subsidiary” of Nippon North America under the terms of the merger agreement on April 8 at the Securities and Exchange Commission. Trump’s description of the deal as a “partnership” has caused confusion among the investors and the leadership of the Union.
The president told US steel workers that Nipon would be a “great partner”. The Trump administration is currently involved in commercial conversations with Japan, as investors are eagerly awaiting signs that the US will achieve deals with key partners who avoid steep rates.
Trump told steel workers that Nippon has agreed to keep US Steel blasting furnaces to work with full capacity for a minimum of 10 years. The president said the deal would not lead to cuts and promised that there would be no “outsourcing”. He said workers would receive a $ 5,000 bonus.
Trump has announced that he has doubled the US rates to import steel up to 50% during his remarks about US steel workers. These tariffs came into force on June 4.