WASHINGTON (AP) — President Donald Trump said Friday that U.S. Steel will keep its headquarters in Pittsburgh as part of what he called a “planned partnership” between the iconic American steelmaker and Japan-based Nippon Steel, which has sought to buy it.
Nippon Steel’s nearly $15 billion bid to buy U.S. Steel was blocked by former President Joe Biden and, after Trump became president, subject to another national security review by the Committee on Foreign Investment in the United States.
Trump said in a statement that “after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh.”
What Trump called a “planned partnership” will create at least 70,000 jobs and add $14 billion to the U.S. economy, he said, although it wasn’t clear what the terms of the deal would be or who would own U.S. Steel under the arrangement.
The companies didn’t immediately comment.
