Trump to tout US Steel, Nippon partnership at Pittsburgh rally

President Donald Trump will deliver remarks on May 30 during a rally at a US Steel processing plant one week after announcing a partnership between the US-based manufacturer and Japan's Nippon Steel.

Trump said on May 23 on Truth Social the two companies will enter a planned partnership that will keep the American steel company's headquarters in the United States, create 70,000 jobs and include a $14 billion investment over the next 14 months. Nippon Steel has been trying to buy US Steel since 2023, but it had been blocked first by President Joe Biden and then Trump.

Trump's flip flop on his long-standing opposition to the deal dovetails with his administration's efforts to advance domestic manufacturing and follows the implementation of 25% tariffs on all steel imports to the United States.

"I went to the unions, all of the local unions, they all wanted it. I'm doing it because all of the congressmen came in, about five of them, and the others I understand are in concurrence, and they asked that I do it," Trump told reporters on May 25. "Everybody seems to want it."

The White House has provided few details on the deal, and neither United Steelworkers nor Nippon appear to know what the agreement includes.

In his comments to reporters, Trump said US Steel would be controlled by the United States and described the partnership as an "investment and a partial ownership."

Sen. Dave McCormick (R-Pa.) joined Pennsylvania Republican Reps. Mike Kelly and Dan Meuser to discuss the deal with Trump in the Oval Office on May 22 prior to the announced partnership, McCormick said in a statement.

Speaking on CNBC on May 27, McCormick described the deal as a "national security agreement that will be signed with US government."

He said the partnership will include Nippon's $14 billion in new investments into U.S. Steel with a minimum of $2.4 billion for the Mon Valley region where U.S. Steel's Mon Valley Works-Irvin Plant is operated.

McCormick also mentioned a "gold share" which will require US-government approval of board members. This will include a US CEO and a US majority board, he said, adding that Nippon will also have members serving on the board.

Republican members of the Pennsylvania congressional delegation including Reps. Scott Perry, Guy Reschenthaler, Glenn Thompson and Mike Kelly all praised Trump for the deal.

United Steelworkers, North America's largest private-sector union, wrote in a May 28 letter to members that the partnership raises "more questions than answers."

The union said it had not been included in closed-door discussions.

"At this time, we cannot say whether the 'planned partnership' described in Friday's message on Truth Social or news reports since then represents any meaningful change from the merger proposed in 2023, under which Nippon Steel would acquire US Steel and make it a wholly owned subsidiary," the union wrote.

US Steel praised Trump for the deal and said the company will remain American and "grow bigger and stronger" through a partnership "that brings massive investment, new technologies and thousands of jobs over the next four years."

The White House did not respond to Platts, part of S&P Global Commodity Insights, request to confirm specifics about the partnership.

Nippon announced it would acquire US Steel for more than $14 billion in 2023, but former President Joe Biden blocked the proposed takeover, citing national security concerns and the need for American-based supply chains. Nippon had already offered many of the aspects of the deal that have become public: The $14 billion price, putting US citizens on the board, and keeping the headquarters in the US were all on the table.

Nippon did not respond to S&P's request for comment.

A Nippon spokesperson told the Japan Times in a May 26 story that the company had yet to be informed about details of the partnership. Nippon has made promises over the years to ensure US control of US Steel and to keep US steel mills open, none of which seemed to persuade US leadership.

On the campaign trail, Biden, Vice President Kamala Harris, and Trump all promised to block it.

Pennsylvania Sen. John Fetterman, a Democrat, criticized the original deal calling it "a death sentence for Mon Valley Steel."

"Nippon coughed up an extra $14B," he wrote on X May 23 after Trump announced the partnership. "This is why we fight for the union way of life."

Rep. Chris Deluzio (D-Pa.) also praised Trump's deal over the original proposal.

"The devil will be in the details about President Trump's announcement for the future of US Steel. But I do know one thing: thank goodness guys like me didn't fold and weakly say yes to Nippon's initial offer," he said in a statement.

Trump will deliver remarks at 5 p.m. on May 30 at US Steel's Irvin Works plant outside of Pittsburgh.