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.
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