A water tower at US Steel Corp Edgar Thomson, Bradock, Pennsylvania on September 4, 2024 Steel Mill Mill Mill.
Justin Meriman | Bloomberg | Getty images
chairman Donald Trump Approved the merger on Friday US steel And Nippon steelAfter the previous bid by the Japanese steel manufacturer, his American rival was blocked on national security basis.
Trump said in a post on his social media platform, “This will be a planned partnership between United States Steel and Nippon Steel, which will generate at least 70,000 jobs, and add $ 14 billion to the US economy.” True social,
The President said that the US Steel headquarters will remain in Pittsburgh and will be the wholesale of investment in the next 14 months. The announcement of Trump in US Steel shares increased by more than 20% at $ 52.01 per share.
chairman Joe Biden Nippon Steel blocked Nippon Steel from purchasing US Steel for $ 14.9 billion in January National security concernsBiden said at the time that the acquisition would pose a risk for the US to supply significant chains.
Trump, however, ordered New review of proposed acquisition In April, directing the committee on foreign investment in the United States to determine whether further action in the matter may be appropriate. ,
Trump said he would organize a rally at US Steel in Pittsburgh on 30 May.
