US President Donald Trump has announced a partnership between U.S. Steel and Japanese steelmaker Nippon that aims to boost the US economy, despite controversy surrounding the deal’s foreign ownership. The agreement is expected to create at least 70,000 jobs and add $14 billion to the US economy over the next four years.
According to Trump, the partnership will keep U.S. Steel’s headquarters in Pittsburgh and secure a major investment in the US steel industry. However, details about the deal remain scarce, including whether it’s a genuine partnership or an acquisition, and how much control will be retained by U.S. Steel.
The deal has faced opposition from labor unions and politicians on both sides of the aisle, with concerns raised over foreign ownership and national security risks. US Steel was once a symbol of American industrial might but has struggled to stay afloat due to decades of decline.
Despite the controversy, Trump’s administration has signaled its willingness to allow the deal to proceed. Republican Senator Dave McCormick praised the partnership, while Democratic Senator John Fetterman described it as a “death sentence” for US manufacturing. Pennsylvania Governor Josh Shapiro expressed support for the agreement, highlighting its potential to create jobs and secure investment in his state.
The announcement sent U.S. Steel’s stock price soaring 21% on Friday. As the deal’s fate hangs in the balance, stakeholders are waiting for further details and clarification on how the partnership will unfold.
Source: https://edition.cnn.com/2025/05/23/business/us-steel-nippon-trump