Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Trump lashes out at Crockett, renews call for...
Trump goes after Zelenskyy over ‘land swapping’ dispute,...
Democratic whistleblower told FBI that Adam Schiff approved...
MORNING GLORY: Trump meets Putin amid an era...
‘Things need to change’: Senate Democrats sharpen criticism...
Mamdani zings Cuomo in rent-stabilized housing spat during...
Unearthed emails reveal White House nixed Biden visiting...
Strong drilling targets identified next to high-grade gold-copper...
Seymour Lithium Project Achieves Permitting Milestone
Acquisition of Silver Extraction Technology
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Business

Trump clears Nippon merger with U.S. Steel

by admin May 24, 2025
May 24, 2025
Trump clears Nippon merger with U.S. Steel

President Donald Trump on Friday cleared the merger of U.S. Steel and Nippon Steel, after the Japanese steelmaker’s previous bid to acquire its U.S. rival had been blocked on national security grounds.

“This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy,” Trump said in a post on his social media platform Truth Social.

U.S. Steel’s headquarters will remain in Pittsburgh and the bulk of the investment will take place over the next 14 months, the president said. U.S. Steel shares surged more than 20% to close at $52.01 per share after Trump’s announcement.

Pennsylvania Gov. Josh Shapiro applauded the agreement, saying he worked with local, state and federal leaders ‘to press for the best deal to keep U.S. Steel headquartered in Pittsburgh, protect union jobs, and secure the future of steelmaking in Western Pennsylvania.’

In his own statement, Lieutenant Gov. Austin Davis called the announcement ‘promising,’ but added: ‘I want to make sure everyone involved in the deal holds up their end of the bargain. I look forward to seeing the promised investments become a reality and the workers receive everything they’ve fought for.’

President Joe Biden blocked Nippon Steel from purchasing U.S. Steel for $14.9 billion in January, citing national security concerns. Biden said at the time that the acquisition would create a risk to supply chains that are critical for the U.S.

Trump, however, ordered a new review of the proposed acquisition in April, directing the Committee on Foreign Investment in the United States to determine “whether further action in this matter may be appropriate.”

Trump said he would hold a rally at U.S. Steel in Pittsburgh on May 30.

This post appeared first on NBC NEWS

previous post
House GOP leadership takes victory lap after passing Trump’s ‘one big, beautiful bill’
next post
United Airlines reaches ‘industry-leading’ labor deal with flight attendants, union says

You may also like

Retailers scramble to move billions in cargo as...

October 1, 2024

Disneyland workers reach tentative deal with company, averting...

July 25, 2024

Microsoft 365 working to address potential Outlook and...

November 26, 2024

How America’s chief consumer-protection agency came into the...

February 14, 2025

Mortgage rates plunge to the lowest level in...

August 5, 2024

Warren Buffett — worried about impersonators — says...

October 24, 2024

Tesla denies report it’s looking to replace Elon...

May 3, 2025

Walmart pulls back on DEI efforts, removes some...

November 27, 2024

Google employees pressure costumed execs at all-hands meeting...

November 2, 2024

Howard Schultz says he ‘did a cartwheel’ when...

June 12, 2025

Recent Posts

  • Trump lashes out at Crockett, renews call for cognitive test
  • Trump goes after Zelenskyy over ‘land swapping’ dispute, lays out ‘feel out meeting’ with Putin
  • Democratic whistleblower told FBI that Adam Schiff approved classified leaks to target Trump
  • MORNING GLORY: Trump meets Putin amid an era done away with John Quincy Adams’ ‘abroad’
  • ‘Things need to change’: Senate Democrats sharpen criticism of Israel as humanitarian concerns grow

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (867)
    • Investing (2,729)
    • Politics (3,369)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.