The Japanese steel manufacturer Nippon Steel will provide an investment in American Stal based in Pittsburgh, and not to continue $ 15 billion purchase of the former American Industrial Power icon, said Donald Trump on Friday.
Trump announced at a press conference of the White House at the end of commercial talks with the Japanese Prime Minister Shiger Ishiba. Trump said that the details of the Nippon Stela investment, which he mistakenly identified as a Japanese manufacturer of Nissan, will be developed at upcoming meetings between companies.
The US Steel announced that in December 2023 the offer from Nippon entertains.
Like the former president Joe Biden, Trump said he was planning to block the purchase. On Friday, he said that the investment is better than the proposed purchase of Nippon.
“It was the largest company in the world for 15 years, many years ago, 80 years ago, and we did not want to see how it will leave, and it will not really go away, but the concept – psychologically not good”, Trump said. “So they agreed to invest strongly in American steel, unlike its possession, and that sounds very exciting.”
In March, Biden said that “necessary” is that a 122-year-old company remained in American hands, which she repeated during the April visit to the headquarters of United Steelworkers to Pittsburgh. The relationship opposed the acquisition.
Since then, the purchase was opposite by others Including US Senator Bob Casey and his democratic colleague Senator John Fetterman and US representative Chris Diluzio (D-17th-District). They called on the Secretary of the US Treasury Janet Yellen, who is the chairman of the Foreign Investment Committee in the United States (CFiUS) to block him.
United Steelworkers Union, who represents about 10,000 American steel employees, said on Friday that he did not hear Trump from the company or administration about the reported investment agreement.
“Our fears about the constant interest of NIPPON US Stal remain unchanged. Nippon has proved that he is a serial trade fraud with the history of dropping its products on our markets, “said the union in a statement. “We are waiting for the details of the proposed investment, we encourage President Trump to further protect the long -term future of the national steel industry by searching for American alternatives. Regardless of what will happen next, we will continue working on protecting the best interest of our members and community. “
Governor of Pennsylvania Josh Shapiro leveled his position with United Steelworkers, Speaking in July That if the union was not satisfied with the contract, he was not elated.
On Friday, the Shapiro office said that his focus remained on the protection of jobs.
“For over 14 months, the governor of Shapiro worked on combining all parties for a long -term solution that would protect JOBS, defend Pennsylvania employees and ensure that the future of American breeding runs through Western Pennsylvania. Shapiro governor remains focused on these priorities – and we are waiting for the details of the potential investment announced today, “said the governor’s office in a statement.
The President of the State Senate Pro tempore Kim Ward (R-Westmoreland), whose district is adjacent to the suburbs of Pittsburgh, in which the works of Mon Valley Stel are located, said that she both supported the sale and the investment that she brought and told Trump when he said that he said that he It will block the contract. Regardless of her position on the nature of the transaction, Ward maintained that she focused on protecting and creating jobs in south -western Pennsylvania.
“President Trump has always fought in America, so I had no doubt that he would fight for workers’ steel and their families in the south -west Pennsylvania, he looked at the contract for the second time,” Ward said on Friday. “While we are still waiting for the details of the potential investment, this is a positive development and is good news about the future of the south -western Pennsylvania, Steelworkers and our heritage.”
At a press conference, Isehiba talked about agreement with Trump regarding investment in the amount of $ 1 trillion in the American industry and the purchase of goods in Japan in the USA, including flowing natural gas, bioethanol and ammonia. IShiba said that the investment in American steel and the implementation of Japanese technology would cause better quality of products. Ishiba described this as the “biggest result” of his meeting with Trump.
“US Stal will produce products that will not only contribute to the United States and Japan, but also to the whole world,” said Ishiba. “This is not one -sided. It will be mutual. It will be mutually beneficial. ”
