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Pres. Trump supports Nippon Steel's bid for US Steel as shares jump 21%
Business World Philippines
|May 26, 2025
US President Donald J. Trump on Friday expressed support for Nippon Steel's $14.9-billion bid for US Steel saying their "planned partnership" would create jobs and help the American economy.
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Shares of US Steel soared 21% as investors interpreted Mr. Trump’s post on Truth Social to mean Nippon Steel had received his approval for its long-planned takeover, the last major hurdle for the deal.
“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,” Mr. Trump said in a post on Truth Social.
Last week, Reuters reported that Nippon Steel has said if the merger is approved, it would invest $14 billion into US Steel’s operations, including up to $4 billion in a new steel mill.
Mr. Trump added that the bulk of that investment would occur in the next 14 months and said he would hold a rally at US Steel in Pittsburgh next Friday.
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