Trump Approves U.S. Steel and Nippon Steel Merger, Promising Job Creation and Economic Boost

President Donald Trump has approved the merger between U.S. Steel and Nippon Steel, clearing a previous blockage that had halted the Japanese steelmaker's acquisition of its U.S. rival due to national security concerns. In a statement on his social media platform, Truth Social, Trump highlighted the merger as a "planned partnership" that will create at least 70,000 jobs and add $14 billion to the U.S. economy.
U.S. Steel's headquarters will remain in Pittsburgh, with the majority of the investment expected to occur over the next 14 months. Following Trump's announcement, U.S. Steel shares surged more than 20%, closing at $52.01 per share. The merger marks a significant move in the steel industry, with both companies aiming to strengthen their positions in the global market while supporting U.S. economic growth.

Published: 5/24/2025