Trump Approves Nippon Steel Acquisition of U.S. Steel

President Donald Trump approved Nippon Steel's $14.9 billion acquisition of U.S. Steel, contingent on a national security agreement requiring $11 billion in investments by 2028. The agreement mandates an American CEO and a majority-American board at U.S. Steel, and grants the U.S. government a 'golden share' with veto power to protect national security interests. Trump also doubled steel import tariffs to 50% in June 2025 to support domestic production. The companies have cleared all required regulatory and Justice Department reviews, overcoming previous opposition from unions and the Biden administration. The merger is expected to create or secure over 100,000 U.S. jobs and allow Nippon Steel to participate in major American infrastructure projects. Nippon Steel is absolved from a $565 million breakup fee under the arrangement.