The potential merger between Nippon Steel and U.S. Steel highlights political and economic tensions. Proposed since 2023, this acquisition faces opposition from unions and national security reviews, influencing steel industry dynamics.

Trump made the announcement as he celebrated a multi-billion dollar deal between the iconic American steelmaker U.S. Steel and the Japanese company Nippon Steel.

The $14 billion that Nippon Steel Corp. executives have pledged to pump into the operations of U.S. Steel Corp. could weaken the U.S. steel market, two analysts noted this week—with one of them saying steel fundamentals are “in free fall.”

At a rally, President Trump praised a partnership between U.S. Steel and Nippon Steel but did not clarify his stance on their merger. The deal faces political and economic tension, with proposed Japanese investment and tariff hikes adding to the complexity surrounding America’s steel industry.

Several industry specialists told NPR they were skeptical that the agreement was substantially different from a structure proposed by Nippon Steel in 2024 for the acquisition of U.S. Steel.

Sen. Dave McCormick (R-Pa.) said Tuesday the U.S. government will have a golden share in Nippon Steel’s acquisition of U.S. Steel, giving it power over some of the decisionmaking. “It’s a

TOKYO -- Nippon Steel reiterated its interest in acquiring U.S. Steel on Friday, as tariffs by the Trump administration and other uncertainties facing the steel industry heighten the importance ...