Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
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

0
FacebookTwitterGoogle +Pinterest
previous post
MACD + ADX: Spot the Pullbacks Worth Trading
next post
Editor’s Picks: ECB Issues Gold Warning, Uranium Stocks Jump on Trump Executive Orders

Related Posts

The CEO in chief: How Trump is getting...

August 15, 2025

Apple Watch getting redesigned blood oxygen feature following...

August 16, 2025

Warren Buffett — worried about impersonators — says...

October 24, 2024

Trump Media in reported talks to buy crypto...

November 20, 2024

A lack of child care is keeping this...

July 9, 2024

Southwest Airlines faces FAA audit over string of...

July 25, 2024

Honda and Nissan officially begin merger talks to...

December 24, 2024

Biden preparing to block U.S. Steel sale to...

September 6, 2024

As Trump eyes more tariffs, South Korea remains...

February 15, 2025

Walgreens plans store closures as CEO says consumers...

June 29, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Recent

    • Expert warns Democrats risk backlash over failure to condemn violent rhetoric in their ranks

      October 26, 2025
    • Here’s when 2025 Election Day early in-person voting comes to a close across the US

      October 26, 2025
    • Serbian foreign minister proposes hosting Ukraine-Russia peace negotiations amid ongoing conflict

      October 26, 2025
    • Trump tears down East Wing for $300M ballroom ahead of high-stakes China meeting

      October 26, 2025
    • Cuomo rips Mamdani’s victim narrative, says Dem socialist is ‘offender’ against 9/11 families, Jews and more

      October 26, 2025

    Categories

    • Business (1,125)
    • Investing (3,336)
    • Politics (4,072)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.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 © 2025 sportinvestorsleague.com | All Rights Reserved