President Donald Trump announced his endorsement of a massive new partnership between U.S. Steel and Japan’s Nippon Steel on Friday, portraying it as a historic turning point for Pennsylvania’s economy.

The agreement, which represents an adjustment from Biden-era positions -- promises to generate 70,000 jobs, bring a $14 billion boost to the economy, and ensure that U.S. Steel stays headquartered in Pittsburgh, as the Daily Caller reports.

The partnership represents a significant reversal from the decision made earlier this year by President Joe Biden, who blocked an earlier $15 billion acquisition proposal by Nippon Steel over national security concerns. That move sparked heated debate over the future of U.S. steelmaking and control over a key component of American infrastructure.

In March 2024, U.S. Steel’s headquarters remained firmly in place in Pittsburgh, long seen as a symbol of American industrial strength. With the new plan, Trump emphasized that the company’s roots in Pennsylvania would remain intact while expanding opportunities for workers throughout the country.

Trump’s endorsement follows years of uncertainty surrounding U.S. Steel’s long-term ownership and a series of bids from foreign investors. As part of his remarks, the president noted the scale of the planned investment, calling it the greatest in the state’s history.

Trump cites growth, stability as key to deal

“For many years, the name ‘United States Steel’ was synonymous with greatness, and now, it will be again,” Trump said during his Friday announcement. He praised the collaboration with Nippon Steel, projecting 70,000 new jobs and $14 billion in economic value nationwide.

Trump’s strong support for the deal comes after months of resistance to any full foreign acquisition of U.S. Steel.

Throughout the 2024 campaign and his presidential transition, Trump voiced opposition to ceding ownership to overseas firms and emphasized keeping key industries under American oversight.

Upon taking office in April, one of Trump’s first actions was to order a fresh review of the potential merger through the Committee on Foreign Investment in the United States (CFIUS).

The interagency review process was aimed at evaluating national security implications and economic impacts of the deal.

Revised partnership signals policy shift

Rather than a complete takeover, the revised structure is now positioned as a partnership. This change appears to have satisfied some earlier concerns raised by both political sides regarding foreign control of American manufacturing.

Biden, speaking when he blocked the initial $15 billion offer in January, had argued that domestic steel production was essential for the country’s security and industrial independence. “Without domestic steel production and domestic steel workers, our nation is less strong and less secure,” he said at the time.

As planned, the new partnership keeps U.S. Steel operations headquartered in Pittsburgh. This distinction maintains a level of domestic oversight that Trump and other policymakers deemed essential for strategic industries like steel.

Support gathers as rally scheduled

In a show of celebration, Trump announced he would hold a rally on May 30 at U.S. Steel’s Pittsburgh headquarters. The event is expected to highlight the projected job creation and economic benefits while underscoring Trump’s commitment to revitalizing U.S. manufacturing.

Republican Sen. Dave McCormick of Pennsylvania joined Trump in supporting the initiative. He pointed to the positive effects the partnership would have on regional job markets, particularly in economically important areas like the Mon Valley.

“My priorities are preserving and expanding jobs and investment in the Mon Valley,” McCormick said. “This partnership gets it done.” He praised the $14 billion figure as a major victory, both locally and nationally.

CFIUS review to set final deal pathway

The CFIUS review, ordered by Trump shortly after taking office, was scheduled to deliver its findings during the same week the deal was announced. While details of the review’s specific conclusions were not disclosed, the timing aligned with Trump’s public endorsement.

The multi-agency panel plays a critical role in determining whether foreign investments pose a risk to U.S. interests. Its role in this case has been especially prominent because of steel’s strategic importance across the military, energy, and construction sectors.

With Trump now behind the partnership and major policy concerns addressed through the revised deal structure, the pathway toward implementation appears clear. Both companies have expressed readiness to move forward, pending final procedural steps.