The bulk of expenditures would be made in the next 14 months, he said, and it will create and save over 100,000 American jobs, including 14,000 in Pennsylvania. As part of the deal, U.S. Steel will maintain all its current operating blast furnaces at full capacity for at least the next 10 years.

For Japan's top steelmaker, U.S. Steel is central to its global expansion strategy at a time when domestic demand is declining.

The potential merger between Nippon Steel and U.S. Steel highlights political and economic tensions. Proposed since 2023, this acquisition faces opposition from unions and national security reviews, influencing steel industry dynamics.

If the US gets a 'golden share' of Nippon Steel's takeover of US Steel, it would be the latest example of how Washington, D.C. increasingly has a say in the operations of major companies.

Nippon Steel declined to comment. US Steel and the White House could not be immediately reached for comment. Nikkei reported earlier in the day that a golden share was under consideration. US Steel shares were trading at $53, up 2%, their highest point since the deal was announced, as investors bet it would close soon.

United Steelworkers raises concerns about Nippon Steel's partnership with U.S. Steel, seeking clarity on investment plans and workforce impact.

A social media post from President Trump and a brief statement on the U.S. Steel website point to a green light for Nippon Steel’s bid for U.S. Steel.