Fri May 23 23:56:09 UTC 2025: **Trump Endorses Nippon Steel’s US Steel Takeover, Sending Shares Soaring**

**Washington D.C.** – Shares of U.S. Steel surged 21% on Friday after President Donald Trump signaled his support for Nippon Steel’s $14.9 billion acquisition of the iconic American steelmaker. In a post on Truth Social, Trump described the deal as a “planned partnership” that would create at least 70,000 jobs and add $14 billion to the U.S. economy.

The announcement marks a significant turning point in the long-anticipated deal, which has faced political scrutiny and opposition, particularly regarding potential job losses and foreign ownership. Trump had previously expressed reservations about the acquisition.

Trump highlighted Nippon Steel’s commitment to investing $14 billion in U.S. Steel’s operations, including up to $4 billion for a new steel mill, with the majority of the investment planned within the next 14 months. He added that he would hold a rally at U.S. Steel in Pittsburgh next Friday.

Nippon Steel applauded Trump’s endorsement of the deal.

Investors have interpreted Trump’s comments as a green light for the takeover, which had stalled under the previous Biden administration. The Committee on Foreign Investment in the US (CFIUS) recently concluded that security risks associated with the deal could be addressed, paving the way for Trump’s approval. Former President Joe Biden blocked the deal in January on national security grounds.

Pennsylvania Senator Dave McCormick echoed Trump’s optimism, calling the deal a “huge victory for America and the US Steel Corporation.” He predicted the partnership would protect over 11,000 Pennsylvania jobs and support the creation of at least 14,000 more.

U.S. Steel’s share price climbed to nearly $54 after hours, approaching Nippon Steel’s original offer price of $55 per share.

The deal will see US Steel no longer publicly traded and investors receiving a cash payout for their shares.

While the United Steelworkers union had urged Trump to block the deal as recently as Thursday, investors are celebrating the news, with one investor noting, “This deal ensures that steelmaking will live on in Pittsburgh for generations.”

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