Trump Approves U.S. Steel Deal With Nippon Steel, Promises 70,000 Jobs and $14 Billion Economic Boost

Benzinga

President Donald Trump on Friday approved the merger between U.S. Steel and Japan’s Nippon Steel, according to CNBC. The move reverses President Joe Biden’s earlier decision to block the $14.9 billion acquisition on national security grounds. In a post on Truth Social, Trump said the planned partnership would create at least 70,000 jobs and add $14 billion to the U.S. economy. Trump said U.S. Steel’s headquarters will stay in Pittsburgh, with most investment occurring over the next 14 months. U.S. Steel shares rose more than 20%, following the announcement.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02President Donald Trump on Friday approved the merger between U.S. Steel and Japan's Nippon Steel, according to CNBC,

00:08who reverses President Joe Biden's earlier decision to block the $14.9 billion acquisition on national security grounds.

00:14In post on True Social, Trump said the planned partnership will create at least 70,000 jobs and add $14 billion to the U.S. economy.

00:21Trump said U.S. Steel's headquarters will stay in Pittsburgh, with most investment occurring over the next 14 months.

00:26U.S. Steel's shares rose more than 20% following the announcement.

00:29For all things money, visit Benzinga.com slash GSTV.

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