U.S. News

Trump Approves $11B U.S. Steel Deal, Promises 100K Jobs

By Jake Beardslee · June 15, 2025

President Donald Trump signed an executive order Friday formally approving the long-delayed merger between U.S. Steel and Japan’s Nippon Steel under a National Security Agreement (NSA), which includes a significant commitment to invest over $11 billion in American steel production by 2028 and create more than 100,000 jobs.

The deal, originally proposed in 2023 for $14.9 billion, had been blocked in January 2025 by former President Joe Biden due to national security concerns. Trump’s executive order acknowledges these concerns but moves the partnership forward with oversight from the Committee on Foreign Investment in the United States (CFIUS), which remains empowered to implement security protections until the deal is finalized.

Under the agreement, the U.S. government will hold a “golden share” — a special governance right — to ensure commitments to domestic production, governance, and trade are upheld.

“This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again,” the two companies said in a joint statement.

Trump publicly celebrated the agreement during a rally at the U.S. Steel-Irvin Works facility near Pittsburgh in late May, calling it “a blockbuster agreement” and assuring workers that “there will be no layoffs and no outsourcing whatsoever.” He also pledged to double tariffs on foreign steel to 50% and said “every U.S. steelworker will soon receive a well-deserved $5,000 bonus.”

While Nippon Steel will not take full ownership of U.S. Steel, it is expected to invest billions to upgrade plants in Pennsylvania and Indiana. U.S. Steel will retain its name, leadership team, and headquarters in Pittsburgh.

The companies confirmed they had completed the Department of Justice review and obtained all necessary regulatory approvals, indicating the partnership’s finalization is imminent.