Trump announces

President Trump said Friday that Us Steel will keep his Headquarters in Pittsburgh As part of what he called a “planned association” between the iconic American Steelmaker and Nippon Steel, based in Japan, which has He tried to buy it.

The offer of almost $ 15 billion Nippon Steel to buy American steel was blocked by former President Joe Biden. After Trump became president, he was subject to another National Security Review by the Foreign Investment Committee in the United States.

“I am proud to announce that, after a lot of consideration and negotiation, Us Steel will remain in the United States and maintain its headquarters in the great city of Pittsburgh,” the president wrote about Truth Social. “For many years, the name, ‘United States Steel’ was synonymous with greatness, and now, it will be again. This will be a planned association between the United States Steel and Nippon Steel, which will create at least 70,000 jobs and add $ 14 billion to the economy of the United States.”

Us Steel’s shares increased 21% in the news and continued to increase in after -sales trade.

The president also said that he will celebrate a “great rally” in Us Steel in Pittsburgh on Friday, May 30.

The White House immediately offered more clarifications, and it was not clear who would be the United States steel owner under the agreement.

Us Steel praised Mr. Trump on Friday, saying in a statement: “President Trump is a bold leader and businessman who knows how to obtain the best treatment for the United States, US workers and American manufacturing.”

“The US steel will continue to be American, and will make us larger and stronger through an association with Nippon Steel that brings massive investments, new technologies and thousands of jobs in the next four years,” the company said. “The US Steel. UU. Huge appreciates the leadership and personal attention of President Trump to the future of thousands of steel workers and our iconic company.”

Nippon Steel said in a statement that “applauds President Trump for his bold action to approve our association with US Steel,” but did not provide additional details on the terms of the agreement.

“We share the commitment of the Trump administration to protect US workers, the American steel industry and the national security of the United States,” said Nippon Steel, qualifying the agreement “a change of play, for Us Steel and all its interested parties, including the American steel industry.”

Mr. Trump has raised 25% rates In all foreign steel imports in an effort to keep industry actors in the United States

Nippon Steel’s offer to buy American steel

Nippon Steel’s offer to buy the American company had always included plans to maintain its headquarters. To sweeten the agreement, Nippon Steel had offered a $ 2.7 billion commitment to update the facilities in Pennsylvania and Indiana in addition to a previous commitment to spend $ 1.4 billion.

The Us Steel CEO, David Burritt, warned last September that if the agreement was blocked, the US steel “would turn to a large extent” and raise “serious questions” about the headquarters in Pittsburgh.

The Board of Us Steel and the shareholders approved the offer of Nippon Steel last year. He has opposed United Steelworkers Union. The union did not have immediate comments on Friday.

During the campaign, Trump said he opposed the agreement, and before assuming the position, he reiterated that he was “totally against the great and powerful American steel bought by a foreign company.”

The then President Biden also opposed the agreement, and after months of review He made a decision In early January to block it. The two companies Archive demands In response.

Then, in February, Mr. Trump suggested that Nippon Steel would not buy American steel, as he had planned, but instead in investing in American steel.

The president of Nippon Steel said that turning the American steel into a total property subsidiary was The starting point of negotiationsaccording to recent Nikkei Asia reports, which said that companies also discussed several other proposals.

“Us Steel is a very special company. We do not want him to go to Japan or any other place, so we are working with them. I don’t know if they need money now, I will be honest with you. They have hit gold.” Mr. Trump said In the White House last month.

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