U.S. President Donald Trump visited Irvin Works in West Mifflin, Pennsylvania, during his visit to US Steel, and received a gold helmet on May 30, 2025 to mark the “partnership” between Nippon Steel and US Steel.
Saul Loeb | AFP | Getty Images
President Donald Trump releases Executive Order The merger of U.S. Steel and Japanese Steel were approved on Friday after the company signed a national security agreement with the U.S. government.
Steel and Japan say the National Security Agreement will provide the U.S. government with a “gold share” and make certain commitments related to governance, domestic production and trade. The two companies did not elaborate on the strength the U.S. government will play with its share of gold.
“All necessary regulatory approvals have been received now and the partnership is expected to be quickly determined,” Iron & Steel and Japan said in a statement.
The companies said the National Security Agreement called on Japan to make $11 billion in new investment by 2028, including initial spending on the Greenfield project to be completed after 2028.
Trump said Thursday that the gold share put the president in “full control” without elaborating. Pennsylvania Sen. Dave McCormick told CNBC last month that the gold share would effectively allow the government to control many board seats.
Trump opposes American SteelThe controversial sale to Japan was sold to Nippon in the campaign as Republicans and Democrats tended to protect U.S. companies from foreign competitors.
But Trump began to soften his opposition to the docking after taking office. Order new reviews April deal. President Joe Biden blocked sales of U.S. steel in his final days of office, citing national security issues despite Japan being a close ally.
Trump avoided calling the deal an acquisition or merger and described it as “partnership“In an article in the social media platform Truth Social on May 23, he insists that U.S. Steel will remain “controlled by the United States” for a period of time. Speak to the workers On May 30, one of the companies outside Pittsburgh.
US Steel has made it clear that it will become a “whomally owned subsidiary” of North America, Japan and North America under the terms of the merger agreement filed with the Securities and Exchange Commission on April 8. Trump’s description of the deal as a “partnership” has confused investors and union leaders.
The president told American steel workers that Japan would be a “great partner.” The Trump administration is currently holding trade talks with Japan as investors are eagerly awaiting a deal the U.S. will reach with key partners avoiding tariffs.
Trump told steel workers that Japan has agreed to keep all U.S. steel explosive furnaces running for at least 10 years. The president said the deal would not lead to layoffs and promised “not outsourcing.” He said workers will receive a $5,000 bonus.
Trump announced that he had reached 50% tariffs on steel imports in his speech to U.S. steel workers. These tariffs will come into effect on June 4.
