Overview

• The national security agreement grants Washington a golden share that can veto key board appointments and block production cuts at U.S. Steel.
• Nippon Steel has pledged $14 billion over 14 months, including $2.4 billion to upgrade Pittsburgh-area facilities and build a new electric arc furnace.
• U.S. Steel will retain its headquarters in Pittsburgh under an American CEO and a board composed of a U.S. majority.
• Officials project the partnership will add at least 70,000 jobs nationwide and inject $14 billion into the U.S. economy.
• The United Steelworkers union continues to voice concerns over foreign ownership and Nippon Steel’s history of U.S. trade-law violations.