Trump Clears Path for $11 Billion Nippon Steel Investment in US Steel

President Donald Trump signed an executive order allowing Japan-based Nippon Steel to invest in U.S. Steel, reversing the previous Biden administration's block on the deal over national security concerns. The agreement includes approximately $11 billion in new investments by 2028 and grants the U.S. government a "golden share," giving it veto power to protect national security interests, although details of how this control will function remain unclear. Trump asserted that the deal preserves 51% American ownership of U.S. Steel and claimed to have "total control" via the golden share, emphasizing the protection of U.S. steelmaking and manufacturing. While the partnership has secured all necessary regulatory approvals and is expected to be finalized promptly, some labor leaders and Democrats remain skeptical, expressing concerns over Nippon Steel's history of unfair trade practices and the impact on workers and communities. Steelworkers' leaders criticized the deal for lacking transparency and excluding union input, warning that national security interests must be carefully scrutinized. Despite opposition, the companies praised the administration's support and anticipate significant economic benefits, including job preservation and regional investment.