Hey everyone! In a surprising twist in the global business arena, U.S. President Donald Trump has signed an executive order that conditionally approves Japanese steelmaker Nippon Steel's acquisition of U.S. Steel. This decision reverses an earlier block by former Biden administration officials. 😮
The deal is set to bring approximately $11 billion in investment to the U.S. by 2028, while the U.S. government is granted a "golden share" that gives it veto power over key decisions — a move aimed at safeguarding national security interests.
Back in January, when the merger was initially rejected, Nippon Steel and U.S. Steel filed a lawsuit to overturn that decision and reopen regulatory reviews. Although Trump once opposed the idea during his candidacy, his optimism later shone through, hinting at a promising partnership between the two giants. Stay tuned for more updates on this dynamic shift in the industry! 🚀
Reference(s):
Trump approves U.S. Steel sale to Nippon Steel with conditions
cgtn.com
