Steel, Trump and Cliff
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President Donald Trump travels to Pittsburgh Friday to celebrate a deal he once vowed to oppose - Japanese steelmaker Nippon Steel’s long-announced plans to buy iconic American steelmaker US Steel.
A planned merger of the Japanese and American giants, announced in 2023, has traveled through an election, two presidents and strong union opposition.
2don MSN
HARRISBURG, Pa. (AP) — President Donald Trump is holding a rally in Pennsylvania on Friday to celebrate a details-to-come deal for Japan-based Nippon Steel to invest in U.S. Steel, which he says will keep the iconic American steelmaker under U.S.-control.
President Donald Trump touted a "blockbuster agreement" between U.S. Steel and Japanese company Nippon Steel that he said would keep the U.S. steelmaker in Pittsburgh.
Gary Mayor Eddie Melton has been supportive of a deal between Nippon and U.S. Steel for months, citing how it would benefit Gary Works. In August, it was announced that Nippon Steel would invest $300 million into the local facility. A Nippon executive later said the company would invest $1 billion into Gary Works.
Steel producer’s plans include one new electric arc furnace, the restart of another and capacity expansion at a third mill.
Nippon Steel Corp., the Japanese company embroiled in lengthy battle to buy US Steel Corp., said it plans to spend 869 billion yen ($6 billion) at home to expand output from cleaner furnaces.
At the annual security forum in Singapore, U.S. Defense Secretary Pete Hegseth characterizes China as a threat. President Trump celebrates a partnership between Nippon Steel and U.S. Steel, but he's short on specifics.