Former U.S. President Donald Trump has announced via his Truth Social platform that he has given the green light for a merger between Japan’s Nippon Steel and American US Steel. The Republican leader stated that this partnership would create at least 70,000 jobs and add $14 billion to the U.S. economy. This comes after previous concerns about national security blocked the acquisition under President Joe Biden’s administration. According to Trump’s post, the headquarters of US Steel will remain in Pittsburgh, with significant investment expected over the next 14 months. Shares of US Steel surged by more than 24% following the announcement. Previously, Biden had halted the $14.9 billion deal citing supply chain risks critical to U.S. interests. Trump emphasized that this collaboration represents the largest investment in Pennsylvania’s history and highlights his commitment to ensuring steel is once again ‘Made in America.’ He concluded by inviting everyone to a major event celebrating the milestone in Pittsburgh on May 30th.
Trump Approves Nippon-US Steel Merger, Boosting American Jobs
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