Trump Celebrates U.S. Steel Deal, But Details Still in the Air
Updated on
Published on
At a rally in Pennsylvania, President Trump announced what he’s calling a major victory for American manufacturing: a new deal that would allow Japan-based Nippon Steel to invest in U.S. Steel—without giving up American control.
Trump, who previously vowed to block any foreign takeover, said the revamped agreement ensures U.S. Steel stays headquartered in Pittsburgh and will be governed largely by Americans through a “golden share” setup that gives U.S. officials veto power over critical decisions.
According to lawmakers briefed on the arrangement, Nippon will still spend billions—reportedly around $29 billion total—on buying in and upgrading U.S. Steel facilities in states like Pennsylvania, Alabama, and Indiana. But despite the headlines, neither company has confirmed the specifics, and the United Steelworkers union remains skeptical. They argue it looks awfully similar to the original deal they opposed.
Trump is framing the deal as a cornerstone of his push to revitalize U.S. manufacturing and fend off foreign control of key industries. But with few official details released, and major stakeholders still unconvinced, the final outcome remains to be seen.
