BREAKING: Trump greenlights US Steel, Nippon Steel merger

Published by:Alesha Alkaff<>
23 May 2025 @ 20:21 UTC

The 17-month saga between US Steel and Nippon Steel has finally come to an end, with President Donald Trump taking to social media on Friday May 23 to announce that the steelmakers will form a partnership.

I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America and keep its headquarters in the great city of Pittsburgh, Trump posted on Truth Social on Friday.
The President added: This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs and add $14 billion dollars to the US economy.
The approval of the merger followed a reportedly divided national security review by the Committee on Foreign Investment in the United States (CFIUS) on the $15 billion bid, the second of its kind.
In the first CFIUS review, former President Joe Biden blocked the deal on national security grounds in January.
Nippon Steel’s bid for US Steel began in December 2023and has since faced two CFIUS national security reviews, backlash from members of Congress and the United Steelworkers (USW) union.
Nippon Steel has promised multi-billion-dollar investments to the 120-year-old steelmaker, including a new $4 billion mill.
US Steel, Nippon Steel, the United Steelworkers union and former US Steel bidder Cleveland-Cliffs did not immediately respond to Fastmarkets’ requests for comment.