President Donald Trump has officially endorsed a partnership between United States Steel Corp. and Japanese steelmaker Nippon Steel Corp., following a national security assessment by a federal review panel. Trump emphasized that the agreement will ensure U.S. Steel remains an American company, keeping its headquarters in Pittsburgh, Pennsylvania.
“I am proud to announce that, after much consideration and negotiation, U.S. Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh,” Trump declared on his Truth Social account on May 23.
The president stated that the partnership is projected to generate at least 70,000 new jobs and inject $14 billion into the American economy, with most of the investment planned within the next 14 months. Trump also revealed plans to attend an event in Pittsburgh on May 30 to celebrate the partnership’s announcement.
The announcement followed news that the White House had received a recommendation from the Committee on Foreign Investment in the U.S. (CFIUS), a national security body tasked with reviewing foreign investments that could impact American interests. The panel’s review of the U.S. Steel and Nippon partnership was a critical factor before moving forward with public support.
