Trump finally approves the alliance between Nippon Steel and US Steel

US President Donald Trump has endorsed Japanese steelmaker Nippon Steel's decision to acquire US Steel, a deal that has been in the works since 2023 amid concerns about the loss of strategic autonomy it would entail for the United States and the uncertainty surrounding employment.

"I am proud to announce that, after much consideration and negotiation, US Steel will remain in the United States and maintain 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," the US president said on his Truth Social account.

President Trump has described the purchase as a "planned partnership" and has asserted that it will represent a "$14 billion investment in the American economy" and the creation of at least "70,000 jobs."

Until now, the White House tenant had not supported the transaction because US Steel is a "very important" company for the United States, meaning the Japanese steelmaker could only acquire a minority stake in the American company.

However, on April 7, it ordered the Committee on Foreign Investment in the United States to review the transaction to determine whether "it would be appropriate to take further action in this matter," taking a step toward a possible agreement.

"US Steel greatly appreciates President Donald Trump's leadership and personal attention to the future of thousands of steelworkers and our iconic company," the US steelmaker said in a statement. Nippon Steel's latest offer was estimated at approximately $14.1 billion (€12.31 billion) and an additional capital injection to modernize its operations, but the current offer was not disclosed.

"This is the largest investment in the history of the Commonwealth of Pennsylvania. My tariff policies will ensure that steel is, forever, made in America again. From Pennsylvania to Arkansas, and from Minnesota to Indiana, American Made is back!" the U.S. president asserted.