Trump Hosts Rally to Highlight Nippon Steel-U.S. Steel Partnership

On May 30, 2025, former President Donald Trump is set to hold a rally in Pittsburgh, Pennsylvania, to commemorate a proposed collaboration between Nippon Steel and U.S. Steel. This event marks a significant moment as it hints at the possible final approval of a deal that has been in the works for 18 months, despite facing numerous challenges.

The partnership aims to combine Nippon Steel's resources with U.S. Steel, which is headquartered in Pennsylvania. Advocates for the merger are optimistic that Trump's rally will bolster support for the agreement, which has encountered resistance from labor unions and underwent two national security reviews.

Despite the enthusiasm surrounding the rally, the deal's status remains uncertain. Trump's recent comments on social media regarding the merger raised some questions about its structure, suggesting that it might involve a form of investment with Nippon Steel holding a minority stake, thereby leaving operational control with U.S. Steel.

Scheduled for 5 p.m. ET at a U.S. Steel facility, Trump's remarks are anticipated to focus on the significance of this potential partnership. The White House has framed his address as a celebration of the "U.S. Steel Deal."

Trump has until next Thursday to make a decision on the merger, following a second review by the Committee on Foreign Investment in the United States (CFIUS). However, this timeline might be subject to delays.

The journey leading to the rally has been tumultuous. Nippon Steel proposed a $14.9 billion offer for U.S. Steel in December 2023, motivated by an expected increase in steel demand fueled by the bipartisan infrastructure law. However, the endeavor faced initial resistance from both Trump and President Biden, both of whom emphasized the necessity for U.S. Steel to remain under American ownership, particularly with the upcoming elections in mind.

Following an initial review by CFIUS, President Biden blocked the merger in January, citing national security concerns. The companies contested this decision, claiming they were not afforded a fair evaluation, a statement the Biden administration has refuted.

With the shift in administration, Nippon Steel and U.S. Steel have found a renewed opportunity under Trump, who initiated another 45-day national security review of the merger last month. However, Trump's fluctuating comments about the agreement have led to uncertainty among investors regarding its eventual approval.

Reports indicate that Nippon Steel has proposed an investment of $14 billion into U.S. Steel's operations, including plans for a new steel mill, contingent upon receiving the green light from the Trump administration. This investment is projected to generate around 70,000 jobs and contribute $14 billion to the U.S. economy, providing a hopeful outlook for supporters of the merger.

Trump has expressed optimism about the potential partnership, stating that it will create significant employment opportunities and bolster the American economy. His rally is expected to serve as a platform to energize support for this ambitious agreement.