Trump authorizes merger of US Steel and Nippon Steel

President Donald Trump signed an executive order on Friday authorizing the merger of steel giants US Steel and Nippon Steel, after the companies reached an agreement on US national security guarantees.

The deal ends a saga over ownership of a key national asset since the two industrial groups announced in 2023 a plan for Nippon Steel to acquire US Steel for $14 billion. The deal was blocked by former President Joe Biden, who said it was a matter of national security.

Last month, Trump expressed support for a “planned partnership” between the two groups. “US Steel WILL REMAIN in the United States and will maintain its headquarters in the great city of Pittsburgh,” he posted on Truth Social at the time.

In a joint statement, US Steel and Nippon Steel celebrated the decision: “Trump approved the historic partnership between the companies, which will allow investment in steel manufacturing in the United States, protecting and creating more than 100,000 jobs.

“In addition to the presidential decree approving the partnership, the companies signed the National Security Agreement (NSA) with the United States government,” which provides for new investments of around US$11 billion through 2028, they explained.

The announcement came after a review of the deal by the Committee on Foreign Investment in the United States, which is responsible for analyzing the national security implications of foreign acquisitions of American companies.