By Gavin Bade
U.S. Steel will remain an American company, President Trump announced on Friday, saying the firm had agreed to a partnership with Japanese firm Nippon Steel, which had previously sought to purchase the beleaguered industrial giant.
As part of the partnership, U.S. Steel will "REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh," Trump posted on Truth Social. He said the firm would invest $14 billion into the economy, much of it over the next 14 months. Trump had previously opposed a takeover plan from Nippon, saying that U.S. Steel should remain a domestically owned company. But he signaled openness earlier this year to Nippon investing in U.S. Steel.
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(END) Dow Jones Newswires
May 23, 2025 15:43 ET (19:43 GMT)
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