In a move that reshapes the global steel landscape, former President Donald Trump on Friday expressed his support for Nippon Steel’s $14.9 billion acquisition of US Steel, calling the deal a “planned partnership” poised to deliver tens of thousands of new jobs and a substantial boost to the American economy.
Trump’s endorsement, posted on his Truth Social platform, sent US Steel shares soaring by 21% and marked a pivotal moment in one of the most politically sensitive corporate transactions in recent memory. The stock continued climbing after hours, nearing Nippon’s $55-per-share offer.
“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 US Economy,” Trump wrote.
Nippon Steel quickly welcomed Trump’s public approval, describing the decision as a milestone in a merger process that had seen intense scrutiny over foreign ownership concerns, especially in key battleground states like Pennsylvania. The Japanese steelmaker has pledged to invest up to $14 billion in US Steel’s domestic operations, including as much as $4 billion in a state-of-the-art mill.
Trump indicated that a majority of this investment would be made within the next 14 months. He also announced plans to hold a rally at US Steel’s Pittsburgh facility next Friday, underscoring the political and symbolic weight of the deal.
While the White House has yet to comment, the Committee on Foreign Investment in the United States (CFIUS) reportedly told the administration earlier this week that any national security concerns related to the deal could be mitigated, effectively clearing the path for Trump’s approval.
The merger, long speculated about in financial circles, had become a flashpoint in the debate over foreign influence in American industries. However, the shift in political tone — particularly Trump and Pennsylvania Senator Dave McCormick’s framing of the transaction as a “strategic partnership” — has recast it as a national economic win.
McCormick called the agreement a “huge victory for America and the US Steel Corporation,” adding that it would safeguard more than 11,000 jobs in Pennsylvania and generate at least 14,000 additional roles nationwide.
If completed, the deal would end US Steel’s status as a publicly traded company, with investors expected to receive a full cash buyout — a rare outcome in today’s volatile mergers landscape, and one signaling strong institutional backing.
