Trump Endorses $14 Billion Nippon-US Steel Partnership with US Control

President Donald Trump has indicated support for a partnership deal between Japan's Nippon Steel and American steelmaker U.S. Steel, signaling a shift from previous opposition by his and the Biden administrations. The proposed $14 billion investment from Nippon Steel includes building a new mill and modernizing existing U.S. facilities while maintaining U.S. Steel's headquarters in Pittsburgh, preserving American jobs, and ensuring U.S. control through an American CEO and majority U.S. board members. This deal aims to address national security concerns by keeping operational control in American hands while competing against China's dominance in global steel production. Despite optimism reflected in U.S. Steel's stock surge, key details of the acquisition remain unclear, and the transaction has not been formally acknowledged by the companies or the stock exchange. Senator David McCormick and Trump emphasized that the partnership would guarantee American governance and protections, though Nippon Steel has not confirmed acceptance of these specific terms. The deal is framed as a strategic move to revitalize American manufacturing and steel capacity amid global economic and security challenges.