Trump supports US

Former U.S. President Donald Trump recently expressed support for the collaboration between U.S. Steel and Do you need to pay taxes on foreign exchange profit withdrawalsNippon Steel, stating that this deal is a result of his tough trade policies and tariff strategy. Although he did not explicitly endorse the $14.1 billion acquisition proposal of U.S. Steel by Nippon Steel, his positive remarks significantly boosted market confidence, causing the stock price of U.S. Steel to surge by 26% at one point.

On his social platform Truth Social, Trump stated: “I am proud to announce that after thorough deliberation and negotiation, U.S. Steel will continue to be rooted in America, with its headquarters remaining in the great city of Pittsburgh.” He emphasized that it was his tariff policies that ensured the domestic presence of the U.S. steel industry, reflecting the core value of "Made in America."

He further stated that this U.S.-Japan steel partnership will bring at least 70,000 new jobs to the U.S. and drive approximately $14 billion in new investments, the majority of which will be implemented within the next 14 months. He also announced plans to personally visit Pittsburgh on May 30 to attend an event related to the partnership, further expressing his support for the deal.

According to confirmation from the White House, Trump has received review recommendations from the Committee on Foreign Investment in the United States (CFIUS) concerning the deal. This indicates that the transaction is undergoing national security regulatory review, pending final approval.

The partnership has garnered significant market attention not only due to the iconic status of U.S. Steel as a century-old industrial symbol but also because it involves deep-level interactions between the U.S. and Japan in manufacturing and strategic investments. If completed successfully, this transaction will signify a major shift in the global steel industry landscape and might also become a key indicator of U.S. foreign economic policy.

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