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2w ago

Trump Administration Greenlights $29 Billion Nippon–US Steel Partnership with Government Veto Power

The partnership secures American oversight through a government-held “golden share,” committing fresh capital to domestic steel operations.

FILE - A person walks past a Nippon Steel Corporation sign at the company headquarters on Jan. 7, 2025, in Tokyo. (AP Photo/Eugene Hoshiko, File)
The logos of Nippon Steel Corp. are didplayed at the company headquarters in Tokyo, Japan March 18, 2019. Picture taken March 18, 2019. REUTERS/Yuka Obayashi
FILE - The United States Steel logo is pictured outside the headquarters building in downtown Pittsburgh, April 26, 2010. (AP Photo/Gene J. Puskar, File)
President Donald Trump speaks during a swearing in ceremony for interim U.S. Attorney General for the District of Columbia Jeanine Pirro, Wednesday, May 28, 2025, in The Oval Office of the White House in Washington. (AP Photo/Evan Vucci)

Overview

  • Nippon Steel will invest $14 billion on top of its $14.9 billion purchase bid for US Steel, creating a nearly $29 billion partnership.
  • A US government “golden share” grants veto authority over major corporate decisions to ensure continued American control.
  • Planned investments target upgrades at US Steel plants in Pennsylvania, Indiana, Alabama, Arkansas and Minnesota.
  • Pennsylvania Gov. Josh Shapiro and Sen. David McCormick praised the deal for safeguarding jobs and revitalizing the regional steel industry.
  • The United Steelworkers union remains wary, questioning whether the revised arrangement meaningfully alters Nippon Steel’s full-ownership incentives.