• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Trump clears Nippon merger with U.S. Steel
Editor's Pick

Trump clears Nippon merger with U.S. Steel

by May 24, 2025
by May 24, 2025 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • Boeing investigates quality problem on undelivered 787s, sources say
  • McDonald’s reportedly temporarily shuts its U.S. corporate offices ahead of layoffs
  • Dockworkers on East and Gulf Coast to return to work after reaching agreement on wages
  • Disney rolls out line-skipping park passes costing up to $449
Share
0
FacebookTwitterPinterestWhatsapp

previous post
3 Stocks to Watch While Everyone’s Staring at NVIDIA
next post
United Airlines reaches ‘industry-leading’ labor deal with flight attendants, union says

You may also like

Tesla workers shared sensitive images recorded by customer cars

April 7, 2023

Employers added 206,000 jobs in June, as sturdy labor market...

July 8, 2024

Grand Canyon University, largest for-profit college, fined $37.7 million

November 1, 2023

TikTok-inspired thefts prompt 17 states to urge recall of Kia,...

April 23, 2023

LongHorn up, Olive Garden down: Darden earnings hint at dinings...

June 24, 2024

Denny’s says some locations will start charging extra for eggs...

February 25, 2025

What is Observability and Why is it Important?

December 28, 2022

Target rolls back DEI initiatives, the latest big company to...

January 25, 2025

Employers added 206,000 jobs in June as sturdy labor market...

July 8, 2024

Fox streaming service to be called Fox One, launch before...

May 13, 2025

Tesla workers shared sensitive images recorded by customer cars

April 7, 2023

Employers added 206,000 jobs in June, as sturdy labor market...

July 8, 2024

Grand Canyon University, largest for-profit college, fined $37.7 million

November 1, 2023

TikTok-inspired thefts prompt 17 states to urge recall of Kia,...

April 23, 2023

LongHorn up, Olive Garden down: Darden earnings hint at dinings...

June 24, 2024

Denny’s says some locations will start charging extra for eggs...

February 25, 2025

What is Observability and Why is it Important?

December 28, 2022

Target rolls back DEI initiatives, the latest big company to...

January 25, 2025

Employers added 206,000 jobs in June as sturdy labor market...

July 8, 2024

Fox streaming service to be called Fox One, launch before...

May 13, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Recent Posts

    • The Best Five Sectors, #27

      July 14, 2025
    • Is It Time to Lower Our Market Expectations?

      July 13, 2025
    • Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

      July 13, 2025
    • Here’s What’s Fueling the Moves in Bitcoin, Gaming, and Metals

      July 12, 2025
    • 3 Stocks Seasoned Investors Should Watch

      July 11, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,634 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,923 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,610 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,581 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,454 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,173)
    • Investing (538)
    • Stock (2,670)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • The Best Five Sectors, #27

      July 14, 2025
    • Is It Time to Lower Our Market Expectations?

      July 13, 2025
    • Some Walmart garment orders from Bangladesh on hold due to...

      July 13, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,173)
    • Investing (538)
    • Stock (2,670)

    Disclaimer: RoundTableThoughts.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 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    United Airlines CEO responds to string...

    March 21, 2024

    IoT Analytics: 5 IoT sensor technologies...

    January 17, 2023

    JPMorgan creates new role overseeing junior...

    September 19, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here