In a major development for the U.S. steel industry, President Donald Trump has officially approved the partnership between United States Steel (US Steel) and Japan’s Nippon Steel via executive order, according to a company announcement.
The landmark deal is expected to generate over $14 billion in economic investment and protect or create more than 100,000 American jobs, making it one of the largest industrial partnerships in recent history.
In a joint statement, the companies praised the administration’s support:
"We thank President Trump and his Administration for their bold leadership and strong support for our historic partnership... This partnership will support our communities and families for generations to come."
Key highlights of the agreement include:
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US Steel headquarters to remain in Pittsburgh
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At least 70,000 new jobs to be created
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$11 billion committed through a National Security Agreement (NSA) by 2028
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NSA terms include provisions on governance (including a Golden Share), domestic production, and trade protection
The companies also confirmed they have completed the U.S. Department of Justice review and received all required regulatory approvals, clearing the way for the deal to be finalized imminently.
The partnership is being framed as a transformative move to revitalize U.S. steel manufacturing, with promises to "make American steelmaking and manufacturing great again."
VietnamSteel by Hoa Sen Group
