Trump to celebrate 'partnership' between US Steel and Nippon Steel, a merger he once opposed
President Donald Trump on Friday visits Pittsburgh to celebrate what he says is a "planned partnership" between U.S. Steel and the Japanese company Nippon Steel, after previously opposing a merger.
Trump is set to deliver remarks at 5 p.m. ET about the "U.S. Steel Deal" at a rally at the Irvin Works in Allegheny County, according to the White House.
Trump announced the agreement on his conservative social media platform last week. He said it will create at least 70,000 jobs and add $14 billion to the American economy. The "investment," he wrote, would take place over the next 14 months and keep U.S. Steel headquartered in Pennsylvania.
Trump, during the 2024 campaign, pledged to block the Japanese steelmaker from purchasing U.S. Steel. As president-elect, he repeated that vow.
"I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan," Trump wrote in a post to his conservative social media platform in early December.
The Biden administration in January blocked the sale of U.S. Steel to Nippon Steel over national security concerns. The White House said at the time it was important to keep one of the largest steel producers in the nation an American-owned company.
MORE: Biden blocks US Steel takeover by Japan-based Nippon
The reaction was mixed. The president of the United Steelworkers union, which represents hundreds of thousands of workers, celebrated the move while local leaders expressed concern about U.S. Steel's future in southwestern Pennsylvania.
Weeks after the inauguration, Trump met with U.S. Steel CEO David Burritt at the White House. In early April, he ordered a new national security review of Nippon Steel's proposed bid to acquire U.S. Steel.
The White House has provided few details, other than those mentioned by Trump in his social media post, about the agreement.
Peter Navarro, Trump's trade adviser, insisted on Thursday that U.S. Steel "owns" the company.
"Nippon Steel is going to have some involvement but no control of the company," Navarro told reporters outside the White House, though he didn't take any more questions on the agreement.
Nippon was seeking 100% ownership of U.S. Steel in talks with Trump, Nikkei Asia reported earlier this month.
U.S. Steel issued a brief statement last week in which it said Trump "is a bold leader and businessman who knows how to get the best deal for America."
"U. S. Steel will remain American, and we will grow bigger and stronger through a partnership with Nippon Steel that brings massive investment, new technologies and thousands of jobs over the next four years," the company said without sharing more specifics.
Trump to celebrate 'partnership' between US Steel and Nippon Steel, a merger he once opposed originally appeared on abcnews.go.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNN
37 minutes ago
- CNN
Analysis: Trump's foreign policy frustrations are piling up
Every president thinks they can change the world – and Donald Trump has an even greater sense of personal omnipotence than his recent predecessors. But it's not working out too well for the 47th president. Trump might intimidate tech titans to toe the line and use government power to try to bend institutions like Harvard University and judges, but some world leaders are harder to bully. He keeps being ignored and humiliated by Russian President Vladimir Putin who is defying the US effort to end the war in Ukraine. Russian media is now portraying Trump as the tough talker who always blinks and never imposes consequences. The president also thought that he could shape China to his will by facing down leader Xi Jinping in a trade war. But he misunderstood Chinese politics. The one thing an authoritarian in Beijing can never do is bow down to a US president. US officials say now they're frustrated that China hasn't followed through on commitments meant to deescalate the trade conflict. As with China, Trump backed down in his tariff war with the European Union. Then Financial Times commentator Robert Armstrong enraged the president by coining the term TACO trade — 'Trump Always Chickens Out.' Everyone thought that Trump would be on the same page as Benjamin Netanyahu. After all, in his first term he offered the Israeli prime minister pretty much everything he wanted. But now that he's trying to broker peace in the Middle East, Trump is finding that prolonging the Gaza conflict is existential for Netanyahu's political career, much like Ukraine for Putin. And Trump's ambition for an Iranian nuclear deal is frustrating Israeli plans to use a moment of strategic weakness for the Islamic Republic to try to take out its reactors militarily. Powerful leaders are pursuing their own versions of the national interest that exist in a parallel reality and on different historical and actual timelines to shorter, more transactional, aspirations of American presidents. Most aren't susceptible to personal appeals with no payback. And after Trump's attempts to humiliate Ukrainian President Volodymyr Zelensky and South African President Cyril Ramaphosa in the Oval Office, the lure of the White House is waning. Trump spent months on the campaign trail last year boasting that his 'very good relationship' with Putin or Xi would magically solve deep geopolitical and economic problems between global powers that might be unsolvable. He's far from the first US leader to suffer from such delusions. President George W. Bush famously looked into the Kremlin tyrant's eyes and 'got a sense of his soul.' President Barack Obama disdained Russia as a decaying regional power and once dismissed Putin as the 'bored kid in the back of the classroom.' That didn't work out so well when the bored kid annexed Crimea. More broadly, the 21st century presidents have all acted as though they're men of destiny. Bush came to office determined not to act as the global policeman. But the September 11 attacks in 2001 made him exactly that. He started wars in Afghanistan and Iraq — which the US won, then lost the peace. And his failed second term goal to democratize the Arab world never went anywhere. Obama tried to make amends for the global war on terror and travelled to Egypt to tell Muslims it was time for 'a new beginning.' His early presidency pulsated with a sense that his charisma and unique background would in itself be a global elixir. Joe Biden traveled the globe telling everyone that 'America is back' after ejecting Trump from the White House. But four years later, partly due to his own disastrous decision to run for a second term, America — or at least the internationalist post-World War II version – was gone again. And Trump was back. Trump's 'America First' populism relies on the premise that the US has been ripped off for decades, never mind that its alliances and shaping of global capitalism made it the most powerful nation in the planet's history. Now playing at being a strongman who everyone must obey, he is busily squandering this legacy and shattering US soft power — ie. the power to persuade — with his belligerence. The first four months of the Trump presidency, with its tariff threats, warnings of US territorial expansion in Canada and Greenland and evisceration of global humanitarian aid programs show that the rest of the world gets a say in what happens too. So far, leaders in China, Russia, Israel, Europe and Canada appear to have calculated that Trump is not as powerful as he thinks he is, that there's no price for defying him or that their own internal politics make resistance mandatory.
USA Today
40 minutes ago
- USA Today
Trump withdraws nominee to lead NASA Jared Isaacman, who has close ties with Elon Musk
Trump withdraws nominee to lead NASA Jared Isaacman, who has close ties with Elon Musk President Trump has pulled his nomination of Jared Isaacman, a billionaire commercial astronaut with close ties to Elon Musk, as NASA administrator. Show Caption Hide Caption Trump calls Elon Musk a 'fantastic guy' amid drug use allegations President Trump said he didn't know about Elon Musk's alleged drug use and backed the billionaire's cost-cutting. WASHINGTON ― President Donald Trump has pulled his nomination of Jared Isaacman, a billionaire commercial astronaut with close ties to Elon Musk, as his nominee to serve as administrator of NASA. The White House confirmed the withdrawal on May 31 and said Trump will soon announce a new nominee to lead NASA. No reason was provided for parting ways with Isaacman, who led and financed private astronaut missions Polaris Dawn and Inspiration4, which was carried out by Musk's SpaceX. The withdrawal, first reported by the news website Semafor, comes after the 42-year-old Isaacman already cleared the Senate Commerce Committee in April and appeared on track for a full Senate vote. 'The Administrator of NASA will help lead humanity into space and execute President Trump's bold mission of planting the American flag on the planet Mars," White House Assistant Press Secretary Liz Huston said in a statement. "It's essential that the next leader of NASA is in complete alignment with President Trump's America First agenda, and a replacement will be announced directly by President Trump soon." More: Elon Musk's rise and fall: From Trump's chainsaw-wielding sidekick to a swift exit The move comes a day after Musk, a business partner and friend of Isaacman, left the White House after spending four months as a senior White House adviser overseeing the Department of Government Efficiency. Musk joined Trump for an Oval Office news conference to mark the end of the billionaire Tesla and SpaceX CEO's tenure in the White House. Conservative activist Laura Loomer, who has proven influential in many Trump decisions, raised alarm about the status of Isaacman's nomination in an X post, hours before the White House confirmed it was being withdrawn, writing, "There is reason to believe that Isaacman may be facing retaliation because of his friendship with Musk." More: Trump's pick to head NASA has been to space twice: Recapping billionaire's missions Isaacman, founder and CEO of the payment processing company Shift4 Payments, undertook his first private space venture in 2021, when he was commander and financier of the world's first all-civilian extended mission to space. In 2024, he returned to space with an all-civilian crew of amateur spacefarers with the Polaris Dawn missions, which he jointly funded with SpaceX. The Polaris Dawn mission got off the ground on Sept. 10 with the help of a Falcon 9 rocket, which propelled the crew to orbit on a SpaceX Dragon capsule from NASA's Kennedy Space Center in Florida. The crew also included pilot Scott 'Kidd' Poteet and mission specialists Sarah Gillis and Anna Menon. NASA has lacked a full-time administrator since Bill Nelson, NASA administrator in the Biden administration, stepped down on Jan. 20 when Trump was inaugurated. Contributing: Eric Lagatta of USA TODAY Reach Joey Garrison @joeygarrison.
USA Today
40 minutes ago
- USA Today
San Ramon Welcomes Executive Base Network's Flexible Office Space Solutions
San Ramon, California – Executive Base Network, a San Ramon-based office space provider, recently rolled out a service offering flexible office solutions for companies looking for fully featured workspace solutions tailored to meet modern business needs. This service includes Full-Time Office Packages where independent professionals can enjoy furnished spaces with high-speed internet and 24/7 access, perfectly addressing the demands of freelancers. For businesses seeking to project a professional image without the commitment to a physical space, their Virtual Office Packages offer a credible business address, live receptionist services, and access to office facilities as needed. Their Meeting Room Rentals stand out as a cost-effective option for businesses needing professional meeting spaces, equipped with cutting-edge technology such as a 65″ Samsung monitor and Clarus glassboard, and starting at affordable hourly rates. Meanwhile, their Private Offices On Demand facilitate access to fully equipped private offices with flexible rental terms, starting as low as $20 per hour. This diversified approach allows businesses to access a professional workspace tailored exactly to their needs, whether regularly or occasionally. 'As businesses evolve, so too should their work environments,' said Tara Teodoro of Executive Base Network. 'Our goal is to provide a flexible and hassle-free workspace experience that enables businesses to thrive without being tied to excessive costs or limitations. The current landscape demands adaptable solutions, and our service aims to meet those requirements.' In addressing the changing demands of workplaces, Executive Base Network offers services that seamlessly adjust to fluctuations in business needs, enabling rapid scaling in response to economic shifts. Administrative support and maintenance services form part of this comprehensive package, ensuring clients have everything required to focus on their primary objectives. Beyond providing workspaces, Executive Base Network is committed to building a community that supports business success. With strategic locations in urban and suburban areas, they reduce commute times and promote a healthier work-life balance for their clients. While adapting to current market trends, Executive Base Network remains dedicated to fulfilling its clients' needs with a forward-thinking approach. The company emphasizes that this new workspace initiative marks a move toward redefining what a modern office can be. Overall, Executive Base Network's introduction of flexible office solutions addresses the need for more dynamic, economical, and efficient work environments. With an emphasis on adaptability and client satisfaction, this service offers a tailored approach to keep up with the ever-changing needs of modern businesses. Further details about the variety of workspace solutions offered can be explored directly through their website.
