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Jun 25, 2025 |
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Forbes
23 May 2025
Topline
Steelmaking titans U.S. Steel and Tokyo-based Nippon Steel will soon enter a partnership, President Donald Trump said Friday, providing scant details on the deal between both companies, which had their 2023 merger blocked under the Biden administration.
Trump announced the deal Friday afternoon. (Photo by Jeff Swensen/Getty Images)
Trump said the partnership between U.S. Steel and Nippon Steel “will create at least 70,000 jobs” and generate $14 Billion for the economy, adding the majority of the investment will take place in the next 14 months.
Trump, who did not characterize the deal as a merger, said U.S. Steel will remain in the U.S. under the agreement.
This is a developing story. Check back for updates.