President Donald Trump has announced a renewed partnership between U.S. Steel and Japanese steelmaker Nippon Steel, reviving a controversial deal that had been previously blocked by the Biden administration. According to Trump, the new agreement will maintain U.S. Steel’s headquarters in Pittsburgh and bring a $14 billion investment into the U.S. economy.
The original $14.3 billion acquisition proposal by Nippon was rejected during former President Joe Biden’s final week in office, citing national security concerns and bipartisan opposition to foreign control of a historically significant American industry.
The deal, first proposed in December 2023, sparked widespread political backlash, with lawmakers from both parties raising alarms about ceding control of a foundational piece of the U.S. industrial base to a foreign company. Critics emphasized U.S. Steel’s symbolic and strategic importance, despite its diminished role in the global steel market.
President Trump framed the renewed partnership as a win for American industry and workers, stating that it would strengthen the domestic steel sector and create jobs while preserving American ownership and oversight of critical infrastructure.
Details of the restructured deal and how it addresses previous national security concerns have not yet been released.
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