Water tower at US Steel Corp. Edgar Thomson Works Steel Mill in Braddock, Pennsylvania, 4 September 2024
Justin Merriman Bloomberg Getty images
President Donald Trump removed the connection on Friday Stal us AND Nippon SteelAfter the previous offer of the Japanese steller was blocked on the basis of national security for the acquisition of an American rival.
“It will be a planned partnership between the United States Steel and Nippon Steel, which will create at least 70,000 jobs and add $ 14 billion to the American economy,” said Trump on his social media platform on his social media platform Social truth.
The headquarters of the American Steel will remain in Pittsburgh, and most of the investments will take place in the next 14 months, said the president. American steel shares increased by over 20%, closing $ 52.01 per share after Trump's announcement.
President Joe Biden blocked Nippon Steel for the purchase of American steel for $ 14.9 billion in January, citing Fears of national security. Biden said then that the takeover would create a risk of delivering chains that are crucial to the USA
Trump ordered, however A new review of the proposed acquisition In April, the management of the Foreign Investment Committee in the United States in order to determine “whether further actions in this matter may be appropriate”.
Trump said that on May 30 he would collect a rally at the US Steel in Pittsburgh.