Nippon Steel has officially acquired US Steel (USS) in a $14.1 billion deal, just days after reaching a national security agreement with the Trump administration.
Under the contract terms, Nippon purchased 100% of US Steel shares at $55 each. The Japanese steelmaker has pledged to invest $11 billion over the next three years to modernize USS facilities across Pennsylvania, Indiana, Arkansas, Minnesota, and Alabama.
These upgrades are expected to protect or create over 100,000 jobs.
Additionally, Nippon plans to build a new steel mill after 2028, increasing its total investment to $14 billion.
Despite foreign ownership, USS will remain incorporated in the United States, with its headquarters remaining in Pittsburgh. Its board and top management will continue to be led by US citizens.
The deal gives President Donald Trump broad control over major corporate decisions—including job relocations, plant closures, and even a company name change—what Trump’s team calls a “golden share.”
Although the United Steelworkers union opposes the takeover, it plans to enforce the current labor contract through 2026.
The acquisition boosts Nippon’s global crude steel production to 86 million tons, nearing its 100 million ton goal. It also strengthens its position in a US market shielded by 50% steel tariffs.