Trump says US Steel will keep Head Quarter in Pittsburgh/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Donald Trump announced that U.S. Steel will remain headquartered in Pittsburgh, signaling potential approval of a Nippon Steel partnership. The Japanese company’s $15 billion bid had faced national security reviews and labor opposition. Investors responded positively, pushing U.S. Steel’s stock higher.
Trump Backs US Steel Deal + Quick Looks
- Trump announces US Steel will stay in Pittsburgh, signaling support for Nippon Steel deal.
- Nippon Steel bid worth nearly $15 billion, under U.S. national security review.
- Trump had previously opposed foreign ownership, now endorses “planned partnership.”
- Deal may include $14 billion in economic impact, though exact terms unclear.
- Union official suggests federal veto power, no layoffs or plant closures promised.
- US Steel shares surged 21% on news, continued rising in aftermarket trading.
- Nippon Steel pledges furnace upgrades, job protection, and no steel imports.
- Deal reflects Trump’s evolving stance, from opposition to potential greenlight.
Trump says US Steel will keep Head Quarter in Pittsburgh
Deep Look
WASHINGTON — President Donald Trump said Friday that U.S. Steel will remain headquartered in Pittsburgh, hinting at his approval of a controversial partnership with Japan-based Nippon Steel — a dramatic shift after months of opposing the company’s acquisition bid.
Trump framed the arrangement as a “planned partnership” that would contribute $14 billion to the U.S. economy, without explicitly stating whether he now supports Nippon Steel’s $14.9 billion acquisition offer or a modified investment strategy. His announcement sent U.S. Steel’s stock soaring 21%, signaling investor optimism that a deal is moving forward.
“After much consideration and negotiation, U.S. Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh,” Trump said in a statement.
From Resistance to Support
The evolution of Trump’s stance is striking. He vowed repeatedly during his campaign and early presidency to block any foreign takeover of the iconic American steelmaker. But more recently, Trump floated a compromise—suggesting that Nippon Steel would invest in U.S. Steel rather than acquire it outright.
The shift appears to reflect both political and economic calculations. With Japan being a key ally and the steel industry facing global competition, the administration may now view the deal as a strategic boost for American manufacturing.
“This ‘partnership’ is a green light for the acquisition,” said Josh Spoores, head of steel analysis for CRU, a commodities research firm.
Deal Terms Still Unclear
Neither Nippon Steel nor U.S. Steel has provided concrete details on how the partnership would be structured or who would retain control. However, both companies issued statements embracing the development:
- Nippon Steel: Called the deal a “game changer” for the U.S. steel industry.
- U.S. Steel: Pledged to remain American, and to “grow bigger and stronger” through Nippon’s investment.
A possible arrangement floated by union officials includes federal government oversight, giving the administration a veto over any major decisions such as plant closures or workforce reductions.
“It sounds like the deal’s done,” said Jason Zugai, vice president of the United Steelworkers local at the Irvin finishing plant. He added that the government could hold a “golden chair” to protect domestic jobs.
Unions Divided, Markets React
The United Steelworkers union has opposed the deal from the start, fearing foreign control and job security risks. But Zugai, who defied union leadership to support the partnership, expressed relief and optimism after Trump’s announcement.
Nippon Steel previously sweetened the offer with a $2.7 billion commitment to upgrade U.S. Steel’s two major blast furnaces — one near Pittsburgh and one in Gary, Indiana — and pledged not to import competing steel slabs or conduct layoffs during the current labor agreement.
“This deal keeps jobs, raises investment, and protects our industry,” Zugai said.
National Security and Political Implications
Trump’s announcement follows a new national security review of the deal by the Committee on Foreign Investment in the U.S. (CFIUS). The transaction had already been blocked by former President Joe Biden, who cited national security concerns during his final days in office.
Despite Trump’s previous hardline stance — including his December declaration that he was “totally against” a foreign-owned U.S. Steel — Friday’s tone was markedly different.
“This could mark a policy shift with long-term implications,” said a senior trade advisor familiar with the negotiations.
Japan Reacts Cautiously
Japan’s chief tariff negotiator, Ryosei Akazawa, said Friday that Tokyo is watching developments closely. He praised the investment opportunity and expressed hope that Nippon Steel’s offer would benefit both Japanese and American industries.
“We believe this proposal supports mutual economic interests,” Akazawa told reporters.
What’s Next
While Trump’s endorsement boosts confidence, regulatory approval and final deal structuring remain unresolved. With both the White House and the public closely watching, the next few weeks could determine whether Nippon Steel secures a landmark investment — or whether the plan reshapes into something closer to a strategic joint venture.
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