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<\/p>\nU.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.<\/p>\n
“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.<\/p>\n
The president made no reference to the details of the Japanese steelmaker’s plan to acquire the iconic but struggling steelmaker.<\/p>\n
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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)<\/p>\n
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.<\/p>\n
“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.<\/p>\n
He also said the bulk of the investment by Nippon Steel will occur over the next 14 months.<\/p>\n
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.<\/p>\n
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.<\/p>\n
Related coverage:<\/p>\n
Japan says its economic importance more clear to U.S. in tariff talks<\/strong><\/a><\/p>\n Trump touts “partnership” between Japan’s Nippon Steel, U.S. Steel<\/strong><\/a><\/p>\n