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After months of historic negotiations, President Donald Trump announced that U.S. Steel will remain in the United States and keep its headquarters in Pittsburgh, Pennsylvania.
Amid this achievement, the president then revealed he would hold a rally in the Steel City to celebrate this achievement.
“I am proud to announce that, after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh,” President Trump announced Friday via a post to Truth Social. “For many years, the name ‘United States Steel’ was synonymous with Greatness, and now, it will be again.”
President Trump continued, “This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy. The bulk of that Investment will occur in the next 14 months. This is the largest Investment in the History of the Commonwealth of Pennsylvania.”
Citing his recent tariffs, President Trump noted that the company would forever be “MADE IN AMERICA,” coining the idea that “AMERICAN MADE IS BACK” throughout the country.
“I will see you all at US Steel, in Pittsburgh, on Friday, May 30th, for a BIG Rally. CONGRATULATIONS TO ALL!” he added.
According to the president, U.S. Steel and Japan’s Nippon Steel have formed a partnership, and America will maintain its company ownership.
CBS News reported that Nippon Steel previously offered $15 billion to purchase the company, but Joe Biden blocked this offer.
At the time, U.S. Steel called Biden’s move “shameful and corrupt,” doing it “while refusing to even meet with us to learn the facts,” while damaging the company’s “future, our workers, and our national security.”
President Trump later reviewed the sale proposal, and upon negotiations, the deal transformed into a partnership instead of an acquisition, protecting the jobs of American workers while bringing investment into the company.
In a statement, U.S. Steel celebrated the president’s deal and thanked him for getting the “best deal for America, American workers, and American manufacturing.”
They further explained that the company will “grow bigger and stronger through a partnership with Nippon Steel,” which will bring “massive investment, new technologies, and thousands of jobs over the next four years.”
“U.S. Steel greatly appreciates President Trump’s leadership and personal attention to the futures of thousands of steelworkers and our iconic company.
According to CBS News, after news of the deal, U.S. Steel shares also spiked 21 percent and continued rising in aftermarket trading.
While the president has yet to release specifics on his upcoming rally in Pittsburgh, RSBN will provide full coverage of his rally at U.S. Steel.
