Trump Clears Path For Nippon Steel Investment In US Steel, So Long As It Fits The Government’s Terms

The logo of Nippon Steel Corp. is seen at an office building where the company’s head office in Tokyo on December 19, 2023. Shares in Japan’s Nippon Steel sank more than six percent on December 19 after it announced a deal to buy US Steel for more than $14 billion that will create the world’s number two steelmaker. (Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)

WASHINGTON (AP) — President Donald Trump has signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a “national security agreement” submitted by the federal government. Trump’s order didn’t detail the terms of the national security agreement. But U.S. Steel and Nippon Steel said in a joint statement that the agreement stipulates that approximately $11 billion in new investments will be made by 2028 and includes giving the U.S. government a “golden share,” or veto power to ensure the country’s national security interests are protected.