United States Steel Corporation and Nippon Steel Corporation, along with Nippon Steel North America, Inc., announced that President Trump has formally approved their landmark partnership. The deal, originally proposed in late 2023, will enable one of the largest foreign direct investments in the U.S. industrial sector in recent memory—an estimated $11 billion by 2028, including greenfield steelmaking projects.
The approval, delivered through an executive order, came after a lengthy and politically charged regulatory journey. As part of the agreement, the companies signed a National Security Agreement (NSA) with the U.S. government, which includes:
On May 30, 2025, thousands of workers gathered at U.S. Steel’s Irvin Plant in Mon Valley Works, Pennsylvania, to celebrate the partnership alongside President Trump.
“This deal will lead to no layoffs. In fact, every U.S. Steel worker is receiving a $5,000 bonus. And we’re keeping the company American-led—with its headquarters right here in Pittsburgh,” said President Trump during the event.
David Burritt, President & CEO, U.S. Steel
“We are entering a new chapter for American steel. This partnership brings transformative capital and expertise while preserving our workers, facilities, and legacy.”
Takahiro Mori, Executive Vice Chairman, Nippon Steel
“Our commitment is clear: $11 billion in American steel infrastructure, no plant closures, no layoffs, and U.S.-based leadership. We are honored to invest in a long-term American partnership.”
United Steelworkers (USW) President David McCall - While USW remains critical of foreign ownership, McCall emphasized the importance of protections in the deal:
“The agreement must put American steelworkers first—not just in words, but in action.”
Ancora Holdings (Shareholder Activist Group)
Ancora remains skeptical, stating the deal could limit strategic flexibility. It had previously backed alternatives focused on domestic investment without foreign control.
PM Shigeru Ishiba, Japan
The Japanese Prime Minister called the deal a “milestone in U.S.-Japan industrial partnership,” noting that Japan remains a trusted ally and significant U.S. investor.
The $11 billion commitment includes facility upgrades, modernization of blast furnaces, and at least one new greenfield site post-2028. According to a study by Parker Strategy Group, commissioned by U.S. Steel, the transaction is expected to protect and create over 100,000 jobs, including direct, indirect, and induced employment.
This deal also comes at a critical juncture for U.S. steel competitiveness. With aging infrastructure and rising global competition, analysts suggest this infusion of capital could enable significant productivity gains and decarbonization advancements in domestic steelmaking.
With the final regulatory and political hurdles cleared, U.S. Steel and Nippon Steel’s partnership sets the stage for an industrial resurgence. As the companies move to finalize the transaction, the challenge now lies in meeting their commitments—ensuring that the investments deliver on their economic promises and labor assurances, while preserving U.S. strategic interests in a volatile global steel market.
