U.S. President Donald Trump said Sunday that United States Steel Corp. will remain under American control even after a “planned partnership” is forged with Japan’s Nippon Steel Corp., which has aimed to acquire it.
“It will be controlled by the United States. Otherwise, I wouldn’t make the deal,” Trump told reporters in New Jersey. “It’s an investment and it’s a partial ownership, but it will be controlled by the U.S.A.,” he said.
The president made no reference to the details of the Japanese steelmaker’s plan to acquire the iconic but struggling steelmaker.
U.S. President Donald Trump speaks to reporters before boarding Air Force One at Morristown Municipal Airport in Morristown, New Jersey, on May 25, 2025. (AP/Kyodo)
Trump said on social media Friday that the two companies are set to sign a partnership that will create at least 70,000 jobs and deliver a $14 billion boost to the world’s largest economy.
“After much consideration and negotiation, U.S. Steel will remain in America and keep its headquarters in the great city of Pittsburgh,” Trump said on Truth Social.
He also said the bulk of the investment by Nippon Steel will occur over the next 14 months.
Trump’s approval came after a panel of federal agencies screened Nippon Steel’s plan in deliberations that began last month at the president’s request, but he has not revealed the details of the potential acquisition scheme.
Both Nippon Steel, the world’s fourth-largest producer in the latest tally by the World Steel Association, and U.S. Steel, the 24th largest, have welcomed the president’s decision in statements.
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