Trump Greenlights US Steel Merger, Projects 100,000 New Jobs– trendingpoliticsnews.com
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President Donald Trump issued an executive order Friday that approves U.S. Steel’s merger with Japan’s Nippon Steel through a National Security Agreement (NSA).
The NSA includes an agreement for more than $11 billion in new steelmaking investments in the United States by 2028, which is projected to create more than 100,000 new jobs for American workers. The deal also gives the U.S. government the “golden share” of the merger, which includes commitments to governance, domestic production and trade, Fox Business reported.
Trump’s order brings what has been a grueling, 18-month saga ever closer to a conclusion after two previous national security reviews and union opposition to an outright acquisition by Japan. The order will now allow a merger to go forward if the companies sign an agreement with the Treasury Department resolving national security concerns surrounding the deal.
“This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again,” U.S. Steel and Nippon Steel companies said in a joint statement.
The companies further revealed that they had completed the review process with the U.S. Department of Justice, stating that “all necessary regulatory approvals for the partnership have now been received, and the partnership is expected to be finalized promptly.”
