Wall Street Wizardry
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Wall Street Wizardry

Business

Trump clears Nippon merger with U.S. Steel

by admin May 24, 2025
May 24, 2025
Trump clears Nippon merger with U.S. Steel

President Donald Trump on Friday cleared the merger of U.S. Steel and Nippon Steel, after the Japanese steelmaker’s previous bid to acquire its U.S. rival had been blocked on national security grounds.

“This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy,” Trump said in a post on his social media platform Truth Social.

U.S. Steel’s headquarters will remain in Pittsburgh and the bulk of the investment will take place over the next 14 months, the president said. U.S. Steel shares surged more than 20% to close at $52.01 per share after Trump’s announcement.

Pennsylvania Gov. Josh Shapiro applauded the agreement, saying he worked with local, state and federal leaders ‘to press for the best deal to keep U.S. Steel headquartered in Pittsburgh, protect union jobs, and secure the future of steelmaking in Western Pennsylvania.’

In his own statement, Lieutenant Gov. Austin Davis called the announcement ‘promising,’ but added: ‘I want to make sure everyone involved in the deal holds up their end of the bargain. I look forward to seeing the promised investments become a reality and the workers receive everything they’ve fought for.’

President Joe Biden blocked Nippon Steel from purchasing U.S. Steel for $14.9 billion in January, citing national security concerns. Biden said at the time that the acquisition would create a risk to supply chains that are critical for the U.S.

Trump, however, ordered a new review of the proposed acquisition in April, directing the Committee on Foreign Investment in the United States to determine “whether further action in this matter may be appropriate.”

Trump said he would hold a rally at U.S. Steel in Pittsburgh on May 30.

This post appeared first on NBC NEWS

previous post
China says Trump Harvard ban will ‘tarnish’ US image as students caught in crosshairs
next post
FTC drops Biden-era suit accusing Pepsi of price discrimination

Related Posts

Hertz says 2024 hack exposed some customers’ driver...

April 16, 2025

Boeing’s Starliner losses top $2 billion after spacecraft...

February 6, 2025

Trump Media sues Brazil Supreme Court judge who...

February 20, 2025

All major Las Vegas Strip casinos are now...

August 5, 2025

Trump says it’s ‘highly unlikely’ he will fire...

July 18, 2025

Chinese tea chain Chagee files for U.S. initial...

March 28, 2025

With Trump all-in on crypto, bitcoin bulls bet...

February 14, 2025

Even at $8M per Super Bowl commercial, ad...

February 9, 2025

Egg prices are falling, with a dozen now...

March 15, 2025

Klarna, nearing IPO, plucks lucrative Walmart fintech partnership...

March 19, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 2

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 3

      Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

      January 26, 2025
    • 4

      US security contractor will take charge of key checkpoint in Gaza as Israeli forces withdraw

      January 25, 2025
    • 5

      Trump re-designates Iranian-backed Houthis as terrorists: ‘Threaten[s] security of American civilians’

      January 23, 2025
    • 6

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 7

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: wallstreetwizardry.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 wallstreetwizardry.com | All Rights Reserved