US President Donald Trump said that the US Steel Steel Company will keep its headquarters in Pittsburgh as part of what he described as “planned partnership”, which indicates that he will agree to an offer from the Japan -based “Nippon Steel” company to buy the famous American steel company.
However, Trump’s statement did not dispel my ambiguity on whether he would approve the offer of “Nippon Steel” after he pledged a lot to prevent any foreign company from owning the US Steel.
Recently, Trump suggested that “Nippon Steel” in US Steel “invest and not buy it, and a union official suggested on Friday that the federal government have a role in managing the company in the future.
But it seems that the investors took Trump’s statement as a sign that he will agree to a kind of integration, which strongly pushed the price of the shares of “USS Steel”, and the two companies issued data for approval.
“The partnership will change the game” for the US Steel and all stakeholders, including the American steel industry and the broader American industrial base.
For its part, USS Steel said, “We will remain Americans, and we will be the largest and stronger through a partnership with Nippon Steel, which will bring huge investments, new technologies and thousands of jobs over the next four years.”
Former President Joe Biden has recently rejected his term “Nippon Steel”, which amounts to about $ 15 billion to buy “USS Steel”, and Trump rejected him after he became president, pending another national security review from the foreign investment committee in the United States.
“After a lot of thinking and negotiation, USS Steel will remain in America, and will keep its headquarters in the great city of Pittsburgh,” Trump said in a statement.
Trump added that “planned partnership” will provide at least 70,000 jobs and add $ 14 billion to the US economy, although it was not clear what the conditions of the deal or who will own “USS Steel” according to this arrangement.
