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Trump says US will control US Steel as part of Nippon deal

ReutersMay 26, 2025 2:21 AM

By Jeff Mason and Steve Holland

MORRISTOWN, New Jersey, May 25 (Reuters) - President Donald Trump said on Sunday that the United States will have control over U.S. Steel X.N as part of the company's partnership with the Japanese company Nippon Steel 5401.T.

As part of the deal announced on Friday, Nippon Steel plans to invest $14 billion into U.S. Steel's operations, including up to $4 billion in a new steel mill. Trump said on Friday the merger would create 70,000 jobs.

Pressed for more details of the agreement, Trump on Sunday: "It will be controlled by the United States, otherwise I wouldn't make the deal."

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