President Donald Trump has announced a new partnership between U.S. Steel and Japanese company Nippon Steel that he says will bring $14 billion in investments to the U.S. economy and create at least 70,000 jobs. “This will be a planned partnership between United States Steel and Nippon Steel,” Trump said on TruthSocial Friday. “The bulk of that investment will occur in the next 14 months.” Trump also said he will visit a steel plant next Friday for a “BIG rally.” Even though Trump called it a “partnership,” it is still unclear whether this deal is truly a partnership or a foreign acquisitio

President Donald Trump has announced a new partnership between U.S. Steel and Japanese company Nippon Steel that he says will bring $14 billion in investments to the U.S. economy and create at least 70,000 jobs. “This will be a planned partnership between United States Steel and Nippon Steel,” Trump said on TruthSocial Friday. “The bulk of that investment will occur in the next 14 months.” Trump also said he will visit a steel plant next Friday for a “BIG rally.” Even though Trump called it a “partnership,” it is still unclear whether this deal is truly a partnership or a foreign acquisition. In December 2023, Nippon had offered $14.3 billion to buy U.S. Steel. But that deal faced strong opposition from both Republicans and Democrats. Former President Joe Biden had blocked the deal in his last week in office. Trump, too, opposed the idea of foreign ownership at first, according to CNN. “I don’t want U.S. Steel being owned by a foreign country,” Trump said. “All they can have is an investment.” However, earlier this year, the Trump administration seemed to soften its stance. It delayed deadlines in a lawsuit involving U.S. Steel, Nippon Steel, and a U.S. government panel that reviews foreign investments for national security risks. This panel, known as CFIUS, recently finished its review and gave Trump a report about whether the deal could move forward safely. To ease concerns, Nippon Steel promised a $14 billion investment, including a new $4 billion steel mill in the U.S., if its offer is approved. U.S. Steel said the deal would help the company grow stronger. “U.S. Steel will remain American,” the company said in a statement. “We will grow bigger and stronger through a partnership with Nippon Steel that brings massive investment, new technologies and thousands of jobs." The United Steel Workers (USW) union is not convinced. It fears the deal will harm workers and American manufacturing. “Allowing U.S. Steel to be sold to Nippon would be a disaster for American Steelworkers, our national security and the future of American manufacturing,” the USW said in a press release. They called on Trump to fully block the sale. “President Trump has publicly pledged to block this sale since January 2024,” the union added. “We now urge him to act decisively.” On the other hand, Pennsylvania’s leaders welcomed the news. Senator Dave McCormick, a Republican, said the deal keeps “U.S. Steel under U.S. control.” Democratic Senator John Fetterman was more skeptical, previously calling the original deal a “death sentence.” Governor Josh Shapiro also supported the announcement. “My priority was to keep and grow jobs here in Pennsylvania and get the largest investment we possibly could,” he said. Shapiro confirmed he had recently spoken with Trump about the deal. Following the announcement, U.S. Steel stock  jumped 21% on Friday.

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