Trump Approves US Steel Merger with Nippon Steel

President Donald Trump has issued an executive order approving the merger between U.S. Steel and Japan's Nippon Steel, after the companies signed a national security agreement giving the U.S. government a "golden share." The deal, which includes $11 billion in new investments by 2028, is expected to be finalized promptly now that all necessary regulatory approvals have been received. Trump had previously opposed the sale but softened his stance after taking office, and described the deal as a "partnership" that will keep U.S. Steel "controlled by the USA."

US Steel and Nippon Steel announced that President Donald Trump has approved their partnership, which had previously faced bipartisan opposition. The companies also entered into a national security agreement with the US government, committing to $11 billion in new investments by 2028. The deal includes a "golden share" that could give the US government special say in how the partnership is run, and Nippon Steel has promised to honor US Steel's union contract and invest in integrated mills in Pennsylvania and Indiana. The partnership had been opposed by the United Steelworkers union, which feared production would be shifted to non-union operations or imports from Japan. Trump's approval of the deal is seen as a step towards his promised manufacturing renaissance.

Donald Trump signed an executive order allowing Nippon Steel to invest in US Steel, provided the Japanese company complies with a national security agreement. The agreement includes an $11bn investment by 2028 and gives the US government a "golden share," or veto power, to protect national security interests. The companies hailed the "historic partnership" and stated it would bring "massive investment" to support communities and families. Details of the agreement and how the golden share would work remain unclear. The deal was previously delayed due to national security concerns, and Nippon Steel had offered nearly $15bn to purchase US Steel.