Trump agrees to combine steel with Japanese steel Nipon star-news.press/wp

President Donald Trump released Executive order On Friday, he agreed to integrate the United States Steel with Nippon Steel in Japan, after companies signed the National Security Agreement with the United States government.

The United States Steel and Nippon said that the National Security Agreement will give the US government a “golden share” and require some obligations related to local government, production and trade. Companies did not explain what the US government’s powers are with their golden share.

“All the organizational approvals needed for the partnership have now been received, and it is expected to be completed. statement.

The companies said that the National Security Agreement calls for Nippon to obtain $ 11 billion in new investments by 2028, including the initial spending on the Greenfield project, which will be completed after 2028.

Trump said on Thursday that the golden session gives the president “full control” without a situation. Senator Pennsylvania Dave McCramick told CNBC last month that the golden session will actually allow the government to control a number of seats in the Board of Directors.

Trump opposed Steel USAThe controversial sale to Nippon in running in the elections of President 2024, where Republicans and Democrats bowed to protect American companies from foreign competitors.

But Trump began to reduce his opposition to the acquisition after taking office, and asked for a new review of the deal in April. President Joe Biden prevented the sale of the United States of America to Nippon during his recent days in his position, pointing to national security concerns, although Japan was closely ally.

Trump avoided calling for the deal for the acquisition or integration, describing it as a “partnership” in a post on May 23 on his social media platform. He insisted that the US steel will remain “controlled by the United States” during a speech by a worker in a company’s factories outside Pittsburgh on May 30.

The United States clarified that it will become a “fully owned subsidiary” of North America in Nippon under the conditions of the integration agreement in a file on April 8 with the Securities and Stock Exchange Committee. Trump described the deal as a “partnership” that caused confusion between investors and the leadership of the Union.

The President told us that Nippon would be a “great partner”. The Trump administration is currently participating in commercial talks with Japan, where investors are eagerly awaiting that the United States will reach deals with the main partners who avoid sharp tariffs.

Trump told steel workers that Nippon had agreed to keep the flexibility ovens in the United States working at full capacity for at least 10 years. The president said that the deal would not lead to the demobilization of the workers and promised that there would be no “use of external sources at all.” He said that the workers will receive a reward of $ 5,000.

Trump announced that he doubled the tariff tariffs on steel imports to 50 % during his statements to US steel workers. These definitions entered into force on June 4.