President Donald Trump said on Friday that U.S. Steel will partner with the Japanese company Nippon Steel, and remain headquartered in Pittsburgh.
The partnership comes after Trump ordered a review of the possible sale of U.S. Steel to Nippon Steel in April. Former President Joe Biden blocked the $14.9 billion sale of U.S. Steel to Nippon Steel, citing national security concerns and risks to U.S. supply chains. Now, the two companies will form a “planned partnership” that will result in 70,000 jobs, according to the president.
“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 said. “For many years, the name, ‘United States Steel’ was synonymous with Greatness, and now, it will be again. This will be a planned partnership between United States Steel…
