Trump signals approval of Nippon deal, US Steel to Stay in Pittsburgh

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Trump signals approval of Nippon deal, US Steel to Stay in Pittsburgh - Business Standard

Quick Summary:

President Donald Trump said on Friday that US Steel will keep its headquarters in Pittsburgh as part of what he called a planned partnership that seemed to signal that he'll approve a bid by Japan-based Nippon Steel to buy the iconic American steelmaker.

Nippon Steel's nearly USD 15 billion bid to buy US Steel was blocked by former President Joe Biden on his way out of office and, after Trump became president, subject to another national security review by the Committee on Foreign Investment in the United States.

Still, Trump's statement left it vague as to whether he is approving Nippon Steel's bid after he vowed repeatedly to block it.