Nippon Steel and U.S. Steel have finalized what they called a “historic partnership.”
The partnership will “protect and create more than 100,000 jobs through unprecedented massive investments in steelmaking in the United States that will be unleashed across U. S. Steel’s footprints, including in Pennsylvania, Indiana, Arkansas, Minnesota, and Alabama,” the companies said in a joint statement, and ensure that “U.S. Steel will retain its iconic name and headquarters in Pittsburgh, Pennsylvania, and that it will continue to be Mined, Melted, and Made in America for generations to come.”
U.S. Steel CEO Dave Burritt thanked President Donald Trump for his “bold leadership” in the deal.
“This is a momentous day for our country, our communities, and the American steel industry. Thanks to President Trump’s bold leadership, American workers secured the best possible deal. U. S. Steel will remain rooted in the United States and continue to call Pittsburgh home,” Burritt said. “Through our partnership with Nippon Steel, we are poised to grow better and bigger, with transformative investment, cutting-edge technology, and the creation of good-paying jobs across the United States.”
Nippon Steel’s CEO, Eiji Hashimoto, also thanked Trump for his “historic and visionary decision.”
Under the deal, Nippon Steel will make an estimated $11 billion in new investments in U.S. Steel by 2028.
In May, Trump announced that U.S. Steel would “REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh.”
“For many years, the name, ‘United States Steel’ was synonymous with Greatness, and now, it will be again. 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,” he wrote on Truth Social last month. “The bulk of that Investment will occur in the next 14 months. This is the largest Investment in the History of the Commonwealth of Pennsylvania.”
