In a dramatic policy reversal, former U.S. President Donald Trump has conditionally approved Japan’s Nippon Steel to acquire U.S. Steel—a move that injects $11 billion into American industry while granting the government veto power over critical decisions. 🔄 The deal, announced Friday, marks a sharp turn from the Biden administration’s earlier block of the merger.
What’s in the Deal?
Nippon Steel pledges to invest $11 billion in U.S. operations by 2028, with the U.S. securing a "golden share" 🛡️ to veto corporate moves deemed risky to national security. While Trump’s executive order didn’t spell out terms, the joint statement emphasizes safeguarding American interests.
From Courtroom to Boardroom
The approval ends a months-long legal battle. After Biden rejected the merger in January, both companies sued to reopen regulatory reviews. Trump, who initially opposed the deal during his campaign, later called it a "win for American jobs" and signaled support in May. 🤝
Analysts say the conditional approval reflects growing U.S.-Japan economic ties, blending security concerns with global business strategies. 💼🌏
