US President Donald Trump announced on 23 May 2025 that he would support a revised partnership between Nippon Steel and United States Steel, reversing his earlier opposition to the Japanese company's takeover bid. The announcement followed a meeting with Pennsylvania political leaders on 22 May and came after the Committee on Foreign Investment in the United States submitted a fresh recommendation on 21 May, following a new review ordered by Trump on 7 April. Under the revised terms, U.S. Steel would keep its headquarters in Pittsburgh and be led by an American chief executive, with a board majority of US citizens, while the US government would receive a golden share giving it veto power over key corporate decisions. Trump said Nippon Steel would invest 14 billion dollars in US operations, including 2.4 billion dollars in the Mon Valley works near Pittsburgh. He promoted the deal at a rally at the Mon Valley plant on 30 May, clearing the way for the transaction to close the following month.
Source: Wikipedia — https://en.wikipedia.org/wiki/Proposed_acquisition_of_U.S._Steel_by_Nippon_Steel
Photo: Wikimedia Commons (freely licensed).