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2d ago

Nippon Steel Increases U.S. Steel Investment to $14 Billion Ahead of Key Decision

The Japanese company pledges $4 billion for a new mill and $11 billion in infrastructure upgrades as the Trump administration nears its decision deadline.

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A sign is posted at the entrance of United States Steel’s Gary Works facility on June 20, 2019, in Gary, Indiana. (Scott Olson/Getty Images/TNS)
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Overview

  • Nippon Steel has committed to a $14 billion investment package, including $4 billion for a new steel mill and $11 billion for infrastructure improvements through 2028.
  • The proposal, part of a last-ditch effort to secure approval, comes ahead of a May 21 CFIUS deadline and a subsequent 15-day window for President Trump to decide.
  • Both Presidents Biden and Trump have expressed concerns about foreign ownership of U.S. Steel, citing national security and political sensitivities tied to the company's Pennsylvania headquarters.
  • The Japanese government has reportedly engaged in the deal talks and may support some of Nippon Steel’s financial commitments as part of its strategic interests.
  • The deal's outcome could reshape the U.S. steel industry, balancing foreign investment with national security concerns and potential job creation in key states.