BURSTPresident Trump announced Friday a partnership between U.S. Steel and Japanese corporation Nippon Steel, saying that jobs will be created in Pennsylvania as a result.
“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. 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 U.S. Economy,” Trump said on Truth Social.
The president said he would go to U.S. Steel headquarters in Pittsburgh for a rally later this month.
“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. 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!” he said.
Pennsylvania Sen. Dave McCormick (R) applauded Trump for the “huge victory” and said he met with members of the Pennsylvania delegation Thursday at the White House to discuss the partnership.
The senator said the partnership's $14 billion investment by Nippon Steel will ensure U.S. Steel “remains under U.S. leadership, dramatically enhances U.S. domestic steel production capacity, protects more than 11,000 Pennsylvania jobs, and supports the creation of at least 14,000 more.”
“This partnership is great for the economy, great for national security, and great for the hardworking people of Pennsylvania. I am proud to stand by President Trump as he lives up to our shared promise to rebuild U.S. manufacturing and deliver for America’s workers,” McCormick said.
Bloomberg News reported that Trump had received the recommendation Friday from the Committee on Foreign Investment in the United States (CFIUS), which he ordered last month to conduct a review of the acquisition of U.S. Steel for help “in determining whether further action in this matter may be appropriate.”
U.S. Steel, Nippon and the White House did not immediately respond to a request for comment.
Earlier this year, former President Biden announced he was going to stop the sale of U.S. Steel to Nippon Steel in the wake of a yearlong review of the possible acquisition. Trump had also vowed in December to block Nippon Steel’s acquisition.