President Donald Trump endorsed a “planned partnership” Friday between U.S. Steel and Nippon Steel, claiming the deal between the two steel giants will constitute the largest economic investment in Pennsylvania’s history.
The president’s decision to greenlight a partnership between the Japanese steel company and its American rival producer caps off a years-long fight over the fate of the iconic Pennsylvania company, U.S. Steel.
Trump announced the steel company will remain headquartered in Pittsburgh and that the Japanese steel company’s investments will add at least 70,000 jobs to the economy.
“For many years, the name, ‘United States Steel’ was synonymous with Greatness, and now, it will be again,” Trump wrote on Truth Social. “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 Trump administration’s endorsement of a U.S. Steel-Nippon Steel partnership follows former President Joe Biden’s decision to block the sale of U.S. Steel to its Japanese competitor for nearly $15 billion in January, citing national security and supply chain concerns.
“Without domestic steel production and domestic steel workers, our nation is less strong and less secure,” Biden wrote