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Trump Clears Nippon Steel’s $14.9 Billion Acquisition of U.S. Steel

It hinges on a national security pact that requires $11 billion in U.S. investments by 2028 with a golden share granting government veto power.

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
A production line of a plate rolling mill is pictured at Nippon Steel's East Nippon Works Kimitsu Area plant in Kimitsu, east of Tokyo, Japan May 26, 2025. REUTERS/Issei Kato/File Photo
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Overview

  • President Donald Trump issued an executive order on June 13 approving Nippon Steel’s $14.9 billion takeover of U.S. Steel.
  • The national security agreement obliges Nippon to invest $11 billion in U.S. operations by 2028 and grants the U.S. government a golden share with veto rights over key decisions.
  • Nippon Steel will acquire 100% of U.S. Steel, which will remain headquartered in Pittsburgh and operate under U.S. oversight.
  • The merger was first announced in December 2023, blocked by President Biden in January over security concerns, and cleared after a renewed CFIUS review under the Trump administration.
  • All necessary regulatory approvals are now in place, and the companies expect to finalize the deal promptly while protecting and creating over 100,000 U.S. steel jobs.