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Trump holding Pennsylvania rally to promote deal for Japan-based Nippon to ‘partner’ with US Steel
PENNSYLVANIA, MAY 30 – The $14 billion Nippon Steel and U.S. Steel partnership aims to create at least 70,000 jobs and sustain American steel manufacturing under U.S. control, Trump said.
- On May 30, President Donald Trump plans to hold an event in Pennsylvania to highlight a forthcoming agreement involving Japan's Nippon Steel investing in Pittsburgh-based U.S. Steel.
- Trump initially vowed to block Nippon Steel's $14.9 billion bid but changed course last week after the company pledged an additional $14 billion investment.
- The agreement entails partial Nippon ownership while maintaining U.S. Steel’s American control via a 'golden share' with three U.S.-approved board members.
- Pennsylvania Rep. Dan Meuser called it a 'strategic partnership' that is American-owned and run, while Sen. David McCormick called the plan 'great' for the steel industry and national security.
- Governor Josh Shapiro and local leaders have expressed guarded hope about the deal, noting it is expected to preserve many jobs and bolster the domestic steel industry’s supply chain.
156 Articles
156 Articles
Steel workers blast Trumps support of takeover by Japanese 'bad actor
The Guardian reports President Donald Trump was once “totally against” the $14 billion takeover bid of US Steel by Japan’s Nippon Steel. But Trump jumped aboard after Joe Biden blocked the deal citing national security concerns. Now Trump touts the Japanese company’s bid for the second largest US steel producer as a lifesaver to the U.S. steel industry.“We won’t be able to call this section a rust belt anymore,” Trump announced at a plant in Wes…
Steelworkers unhappy with Trump OK of Nippon takeover of U.S. Steel
PITTSBURGH—Despite Donald Trump’s promises that the deal would save jobs, the Steelworkers are at best very skeptical of Nippon Steel’s $14 billion purchase of U.S. Steel, and of Trump, too, who has gone back on his word and now supports the deal.. “Trust nothing until you see it in writing,” union President David McCall declared when he learned of the sale—and of Trump’s reversal to approve it—late on May 30. Trump announced the sale to reporte…
A Golden Share Will Not Make America Great Again - LewRockwell
Japanese company Nippon Steel’s plan to purchase US Steel was bound to provoke a strong reaction from left- and right-wing economic nationalists. After all, US Steel was once the world’s largest company, and it was the first company to be valued at over a billion dollars. US Steel was thus a symbol of America’s economic dominance. So it was not surprising that Nippon Steel’s purchase of US Steel was blocked by both the Biden and Trump administra…
A Golden Share Will Not Make America Great Again » Sons of Liberty Media
Japanese company Nippon Steel’s plan to purchase US Steel was bound to provoke a strong reaction from left- and right-wing economic nationalists. After all, US Steel was once the world’s largest company, and it was the first company to be valued at over a billion dollars. US Steel was thus a symbol of America’s economic …
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