After months of scrutiny, President Trump approved Nippon Steel’s acquisition of U.S. Steel, including a $11 billion investment pledge and U.S. government veto rights to address national security concerns.
U.S. President Donald Trump has approved the $14.1 billion acquisition of U.S. Steel Corp. by Japanese company Nippon Steel Corp., according to a joint statement released Saturday by the companies.
This approval comes despite Trump’s earlier opposition to the sale of U.S. Steel to a foreign firm. The companies praised Trump’s “bold leadership and strong support” and said they had reached a national security agreement with the U.S. government.
In an executive order signed Friday, Trump stated that national security concerns tied to the deal could be mitigated if specific conditions are met.
As part of the agreement, Nippon Steel committed to investing $11 billion in the U.S. steel industry by 2028, including an initial greenfield project post-2028. Furthermore, the U.S. government will receive a “golden share” granting veto authority over critical decisions, such as board appointments and major production changes.
The approval concludes months of negotiations and scrutiny since the deal was first announced in December 2023. Notably, former President Joe Biden blocked the acquisition in January on national security grounds, prompting Nippon Steel and U.S. Steel to file a lawsuit challenging that decision.
Trump’s green light marks a significant shift, aiming to boost U.S. steel investments and safeguard over 100,000 jobs.
Iranian authorities have seized a foreign tanker carrying more than 6 million litres of smuggled fuel in the Sea of Oman....
A United Airlines flight heading to Tokyo was forced to return to Washington Dulles International Airport shortly after takeoff on Saturday after an e...
Ukraine’s navy says Russia deliberately attacked a Turkish civilian vessel carrying sunflower oil to Egypt with a drone in the Black Sea, escalating...
Thousands of Hungarians marched to the offices of Prime Minister Viktor Orban on Saturday (13 December) in protest over a physical abuse scandal at a ...
Iranian authorities have seized a foreign tanker carrying more than 6 million litres of smuggled fuel in the Sea of Oman.
Thousands of Hungarians marched to the offices of Prime Minister Viktor Orban on Saturday (13 December) in protest over a physical abuse scandal at a state-run juvenile detention centre. The demonstration was led by opposition leader Peter Magyar, who called on Orban to resign.
Two U.S. Army soldiers and a U.S. civilian interpreter were killed, and three other service members wounded after an ISIS gunman ambushed a joint U.S.-Syrian patrol near Palmyra in central Syria, Pentagon officials said.Pentagon officials said. Pentagon spokesman Sean Parnell said the attack occurre
The Oligarch’s Design is an investigative documentary exploring how financial power, political influence and carefully constructed narratives can shape conflict and public perception.
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
Turkish President Recep Tayyip Erdoğan reiterated his offer to host Ukraine-Russia peace talks in Ankara, at his meeting with Russian President Vladimir Putin. The talks took place on the sidelines of the international Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday (12 December).
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
The resignation of Bulgaria's government on Thursday (11 December) puts an end to an increasingly unpopular coalition but is likely to usher in a period of prolonged political instability on the eve of the Black Sea nation's entry into the euro zone.
The Israeli military said Raed Saed, described as one of the architects of the October 7, 2023 attacks on Israel, was killed on Saturday when a vehicle was hit in Gaza City.
A flash of light followed by the sound of an explosion was observed over Gaza early on Saturday, according to witnesses, as severe winter storms worsened an already dire humanitarian crisis in the territory.
Hundreds of people gathered for a second consecutive week at Tel Aviv’s Hostages Square, on Friday (12 December), to support the family of Master Sgt. Ran Gvili, the last remaining Israeli hostage whose body is believed to be held in Gaza.
Turkish President Recep Tayyip Erdoğan and Russian President Vladimir Putin met for a closed-door discussion on the sidelines of the International Forum for Peace and Trust in Ashgabat, Turkmenistan, on Friday.
Kazakhstan has begun redirecting part of its crude exports, sending oil from Kashagan to China as the Caspian Pipeline Consortium (CPC) operates at reduced capacity.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment