Donald Trump announced that steelmaker US Steel will stay in America, with its headquarters in Pittsburgh. Following the announcement, the shares of US Steel surged nearly 24 per cent on Friday, reported AFP.
Trump claimed that the partnership of US Steel with Nippon Steel is expected to generate 70,000 jobs and inject $14 billion into the US economy, making it a historic investment for Pennsylvania.
Taking to his TruthSocial account, Trump wrote, “I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh. For many years, the name, “United States Steel” was synonymous with Greatness, and now, it will be again.”
His post further read, “This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the US Economy. The bulk of that Investment will occur in the next 14 months. This is the largest Investment in the History of the Commonwealth of Pennsylvania.”
Trump commends tariff policies
Trump praised his tariff policies, which will help manufacture goods in the US.
My Tariff Policies will ensure that Steel will once again be, forever, MADE IN AMERICA. From Pennsylvania to Arkansas, and from Minnesota to Indiana, AMERICAN MADE is BACK. I will see you all at US Steel, in Pittsburgh, on Friday, May 30th, for a BIG Rally. CONGRATULATIONS TO ALL!”
US Steel and Nippon Steel partnership
Trump’s announcement is the latest development in the proposed partnership that started in December 2023, when US Steel and Nippon Steel announced a $14.9 billion merger. The deal, which was expected to be finalised by the third quarter of 2024, was blocked by former President Joe Biden over national security grounds. Both firms filed a lawsuit against the Biden administration for “illegal interference” in the deal.
In May 2025, the Trump administration reassessed the partnership and requested that the Committee on Foreign Investment in the United States (CFIUS), responsible for evaluating the national security risks of foreign acquisitions of US companies, provide its recommendations to Trump within 45 days.
