Trump approves U.</p><p>S. Steel's takeover of Japan's Nippon Steel for $15 billion
US President Donald Trump has approved Japan's Nippon Steel's proposal to take over the U.
S.
S. Steel for $14.9 billion.
This is reported by Reuters.
On June 13, Trump signed a decree authorizing the agreement, subject to a number of requirements.
According to the document, the agreement will be approved only if the parties sign a National security agreement (NSA) with the US Treasury Department, which will exacerbate the issue of national security.
After that, the companies announced that they had signed the agreement, fulfilling the terms of Trump's directive and actually receiving approval for the merger, the agency adds.
Thus, Nippon Steel buys 100% of the shares of U.
S. Steel. According to the companies, the deal includes $11 billion in new investments to be made by 2028, as well as management, manufacturing and trading commitments.
As noted by Reuters, the takeover will allow U.
S. Steel will receive critical investments, in return, Nippon Steel can benefit from many American infrastructure projects while its competitors face 50% tariffs on steel.