US Steel and Nippon Steel said Friday that President Donald Trump has approved their partnership, reviving a deal that had previously been blocked under President Joe Biden.
The two companies also announced a national security agreement with the U.S. government.
“We look forward to putting our commitments into action to make American steelmaking and manufacturing great again,” they said in a joint statement.
The agreement includes approximately $11 billion in planned investments by 2028, according to the statement.
That figure covers an initial investment in a new greenfield project expected to be completed after 2028.
The deal also introduces governance protections such as a “golden share,” giving the U.S. government special oversight rights within the partnership.
White House spokesperson Kush Desai said in a statement, “President Trump promised to protect American Steel and American Jobs — and he has delivered on that promise.
Today’s executive order ensures US Steel will remain in the great Commonwealth of Pennsylvania, and be safeguarded as a critical element of America’s national and economic security.”
The finalized deal signals a shift in political stance. It comes after Biden’s administration blocked the transaction earlier this year, citing national interest concerns.
Trump reversed that decision after taking office, with US Steel emerging as a symbol of the manufacturing resurgence he has promoted nationwide.
Shares of US Steel (X) rose 5% in after-hours trading following the announcement.
Trump traveled to Pennsylvania two weeks ago to celebrate the pending agreement, speaking at a US Steel facility near Pittsburgh.
Before a crowd of steelworkers in hard hats and safety vests, he said the partnership would help ensure that US Steel “stays an American company.”
US Steel had warned that without a deal, it might be forced to shut down aging unionized mills due to lack of capital for modernization.
The United Steelworkers (USW) union has expressed concerns that Nippon Steel could eventually shift operations to non-union facilities in Texas or import steel from Japan to be finished in the U.S., effectively phasing out integrated steel production.
Nippon has committed to honoring USW’s contract and investing billions in integrated mills in Pennsylvania and Indiana.
US Steel, once a towering force in global industry, has seen its dominance decline sharply. It was the most valuable company in the world after its formation in 1901, becoming the first firm ever valued at $1 billion. Its steel helped build skyscrapers, highways, and home appliances across America.
Today, the company employs about 14,000 people in the U.S., including 11,000 union members.
The announcement offers hope for a new chapter in a company long considered part of America’s industrial backbone — and a test case in how international partnerships could reshape U.S. manufacturing.
This development isn’t just about jobs or infrastructure — it’s about business survival in a fast-shifting global economy, where legacy giants must evolve or fade.
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