President Trump said on Friday that the United States began to retain its headquarters in Pittsburgh As part of what he called a “planned partnership” between a landmark American steel manufacturer and a Japanese Nippon Steel that has tried to buy it.
Nippon Steel's offer – almost $ 15 billion to buy steel in the US blocked by former President Joe Biden. After Mr. Trump became president, he was subjected to another Review National Security Foreign Investment Committee in the US.
“I proudly say that after a long consideration and negotiations, American steel will remain in America and keep the headquarters in the big city of Pittsburg,” the president wrote about the truth of the social. “For many years, the name” United States “has been a synonym of greatness, and now it will be again. It will be a planned partnership between the US and Nippon Steel, which will create at least 70,000 jobs, and will add $ 14 billion.”
US STEEL shares jumped 21% on the news and continued to grow in trade after trade.
The president also said that on Friday, May 30, he would hold a “big rally” in Pittsburgh.
The White House did not immediately suggest additional clarifications, and it was unclear who would own the US under the agreement.
On Friday, the United States praised Mr. Trump, saying that in a statement: “President Trump is a bold leader and a businessman who knows how to get a better offer for America, American workers and US production.”
“The American steel will remain an American and we will grow more and stronger through the partnership with Nippon Steel, which brings great investment, new technologies and thousands of jobs over the next four years,” the company said. “The United States steel greatly appreciates President Trump's leadership and personal attention to the future of thousands of steel works and our landmark campaign.”
In a statement by Nippon Steel, he “applauded President Trump for his bold actions to approve our partnership with the United States,” but did not give additional details about the terms of the transaction.
“We share the commitment of the Trump administration to protect US workers, the American metallurgical industry and national security of America,” Nippon Steel said, calling the Agreement “Changing Games – for the US and all its stakeholders, including the American metallurgical industry.”
Mr. Trump charged 25% tariffs On all foreign imports steel, trying to hold the industry players in the US
Submission of Nippon Steel to buy us steel
The Nippon Steel submission on the purchase of an American company has always included plans to keep the Kokwater headquarters. By sweeten the dealNippon Steel offered $ 2.7 billion to modernize Pennsylvania and Indiana, except for the previous commitment to spend $ 1.4 billion.
US CEO David Beerrit warned in September last year that when the deal was blocked, the American steel is “largely canceled” and it raises “serious questions” about the Kokwater headquarters in Pittsburgh.
Last year, the US Council and shareholders approved the Nippon Steel application. This opposed the united union of steel workers. The Union did not comment on Friday.
During the Mr. M -Nn Trump said he opposed this transaction and before joining the post He still repeated He was “completely against when -a great and powerful American steel, which a foreign company bought.”
Then President Biden also opposed this transaction, and after months of review he made the decision In early January to block it. Two companies filed a lawsuits In response.
Then in February g -n Trump suggested Nippon Steel As it was planned, she would not buy us steel, but instead she invested in the US.
President Nippon Steel said he turned us steel into a subsidiary owned completely The starting point of negotiationsAccording to recent reporting with Nikkei thingThe companies also discussed various other proposals.
“Us Steel is a very special company. We don't want it to go to Japan or other place, so we work with them. I don't know if they need money now, I will be honest with you. They hit gold,” ” -” said Mr Trump in a white house last month.