Overview

• President Trump announced tariffs on steel imports will rise from 25% to 50% next week to bolster the domestic steel sector.
• He described the revised U.S. Steel–Nippon Steel partnership as a “blockbuster” deal that guarantees an American CEO and a U.S.-majority board.
• The U.S. government will retain a ‘golden share’ giving it veto power over board appointments and key corporate decisions to address national security concerns.
• Nippon Steel has pledged $14 billion in new investments and Trump said each U.S. steelworker will receive a $5,000 bonus, but the arrangement still requires final CFIUS approval.
• The United Steelworkers union remains skeptical, warning that details so far mirror the original acquisition proposal and questioning whether protections are meaningful.