Trump hails Nippon-U.S. Steel deal for saving 100,000 American jobs
Doubles the steel tariff to 50%
By Jeff Mordock - The Washington Times - Friday, May 30, 2025
President Trump touted the partnership deal he helped broker between U.S. Steel and Japan’s Nippon Steel, saying the alliance will boost manufacturing and keep an iconic company under American ownership.
The president traveled Friday to a U.S. Steel mill in the Pittsburgh suburb of West Mifflin to clear the way for a deal that steelworkers said would save their jobs and provide jobs for the community for generations to come.
During his remarks, Mr. Trump also announced he was doubling his tariffs on steel imports to 50% from the initial 25% he imposed in March. The stringent tariff will make it harder for foreign steel producers to compete with American-made Steel.
“The name U.S. Steel was synonymous with greatness and now it will again be synonymous with greatness,” Mr. Trump said. “The best and strongest steel on earth will forever be made in America, made in Pennsylvania.”
While the crowd of steelworkers at the rally cheered the deal, their union leaders balked that it still represents an outright acquisition of U.S. Steel by a Japanese company — an outcome that both Mr. Trump and President Biden vowed to prevent.
In his remarks Friday, Mr. Trump brushed aside the detractors and hailed the partnership as a victory for the U.S. that will save more than 100,000 American jobs, including 14,000 jobs in Pennsylvania.
Concerns persist about Nippon’s purchase of a stake in U.S. Steel. The actual terms of the deal have yet to be disclosed.
It appears that Nippon will still purchase all outstanding shares of U.S. Steel for $55 per share, or roughly $12.5 billion, which were the terms of a deal first announced in December 2023. Mr. Trump said Nippon Steel will also invest $14 billion in U.S. Steel’s American operations.
However, it’s unclear how large of an ownership stake Nippon Steel will take by purchasing all of U.S. Steel’s outstanding shares. It appears large enough to give Nippon significant control of the company.
Mr. Biden and Mr. Trump opposed Nippon acquiring U.S. Steel, citing national security concerns because the company makes a product essential to U.S. security.
However, Mr. Trump relented because the current deal doesn’t give Nippon a full ownership stake. It’s a point he emphasized at the steel mill.
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READ MORE: https://www.washingtontimes.com/news/2025/may/30/trump-hails-nippon-us-steel-deal-saving-100000-american-jobs/
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“Most importantly, U.S. Steel will continue to be controlled by the U.S.A. Otherwise, I wouldn’t have done the deal,” Mr. Trump said.
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