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Nippon Steel-US Steel Partnership Raises Questions About Jobs, Marc Morial
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May 23, 2025
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4:02Now PlayingPresident Donald Trump backed a partnership between United States Steel Corp. and Japan’s Nippon Steel Corp., crediting his tariff policies for an investment that would keep the iconic American firm in the US. While Trump appeared to stop short of endorsing Nippon Steel’s proposed $14.1 billion takeover of US Steel, shares of the American steelmaker surged as much as 26%, on apparent optimism over the deal’s prospects. “I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh,” Trump said on Truth Social on Friday. “My Tariff Policies will ensure that Steel will once again be, forever, MADE IN AMERICA.”
Trump said the partnership would create at least 70,000 jobs and add $14 billion to the US economy, with the bulk of the investment occurring in the next 14 months. He also said he would appear at an event on May 30 in Pittsburgh. The announcement came shortly after the White House confirmed Trump received a recommendation from the Committee on Foreign Investment in the US, which reviewed the proposed takeover.
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