President Donald Trump has reversed his campaign pledge to block the sale of U.S. Steel to Japan’s Nippon Steel, following intense pressure from a group of Republican lawmakers. The deal, which will see Nippon Steel investing $14 billion in U.S. Steel’s infrastructure and retaining its American ownership structure, aims to create at least 70,000 jobs and add billions to the US economy.
A coalition of around six GOP lawmakers from Pennsylvania and other states with significant steel industries had been working behind the scenes to persuade Trump to reconsider his opposition to the deal. They pointed out the potential thousands of job losses that would result if Nippon Steel’s bid fell through, citing concerns raised by U.S. Steel CEO David Burritt about the importance of foreign investment.
Trump’s change of heart appears to be a response to these lobbying efforts, as well as growing recognition from economic experts that Nippon Steel’s investment was crucial for maintaining the US steel industry. The deal is seen as a major victory for Pennsylvania lawmakers and the steel industry, with Trump set to deliver more details about the plan in an upcoming speech in Pittsburgh.
The move marks a significant shift in Trump’s stance on trade and foreign investment, particularly in light of his growing focus on domestic economic issues following the 2024 election campaign. As one staffer involved in the lobbying effort noted, “the politics of the election is over, and reality is setting in – we can’t make the kind of specialty steel that is needed.”
Source: https://www.politico.com/news/2025/05/30/nippon-steel-trump-00375096