Overview

• President Trump issued an executive order on June 13 granting conditional approval for Nippon Steel’s $14.9 billion purchase of U.S. Steel
• U.S. Steel and Nippon Steel signed the required national security agreement hours later, satisfying Treasury Department and CFIUS mandates
• The pact obligates Nippon Steel to invest $11 billion in U.S. operations by 2028, with initial funding dedicated to a greenfield steel project
• The U.S. government will hold a golden share in the merged company, giving it veto rights over major decisions to maintain national security oversight
• The transaction secures U.S. Steel’s Pittsburgh headquarters, protects or creates more than 100,000 jobs and follows Trump’s decision to raise steel import tariffs to 50 percent