Japan’s Nippon Steel is set to finalize its acquisition of U.S. Steel for $55 per share, following a green light from President Donald Trump on Friday. Trump described the agreement as a “partnership” and announced that Nippon will invest $14 billion in U.S. operations over the next 14 months.
The deal, originally blocked in January over national security concerns by then-President Joe Biden, has been revived after Trump ordered a new review in April. Despite his earlier opposition, Trump emphasized Sunday that the acquisition is “a partial ownership” and will remain under U.S. control. He confirmed that U.S. Steel’s headquarters will stay in Pittsburgh.
Pennsylvania Senator Dave McCormick said the company will retain an American CEO, and most of its board members will be U.S. nationals. The $14 billion investment includes $2.4 billion allocated to upgrading U.S. Steel’s Mon Valley facilities near Pittsburgh. According to McCormick, the deal is expected to preserve 10,000 existing jobs and create 10,000 new ones in construction trades.
The $55 per share bid matches Nippon’s original offer, signaling a renewed effort to strengthen U.S.-Japan industrial ties while addressing domestic concerns over job security and national control.
