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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.
यह कहानी Business World Philippines के May 26, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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