Overview

• President Trump has approved Nippon Steel’s $14 billion takeover of US Steel, reversing his earlier opposition and pledging the creation of 70,000 jobs
• The agreement features a government-issued 'golden share' intended to secure federal oversight, though the specifics of this provision remain undisclosed
• Trump simultaneously announced a doubling of US tariffs on imported steel to 50%, framing it as support for domestic producers
• United Steel Workers president David McCall and other union officials criticize the lack of binding commitments and highlight Nippon Steel’s 13 past US trade-law breaches
• Employees at plants in Pennsylvania and Illinois express uncertainty about their future job security and the fate of existing labor contracts under new ownership