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The 17 month long matter between US AB/DQ63 Steel and Nippon Steel has finally been settled, and the two steel manufacturing companies will establish a "partnership". Trump announced on Friday that US Steel will continue to stay in the United States. Trump further stated that this collaboration will be a planned partnership between US Steel and Nippon Steel, expected to create no less than 70000 jobs and inject $14 billion in growth momentum into the US economy. Looking back at the cooperation process, previously, the Committee on Foreign Investment in the United States (CFIUS) conducted a national security review of Nippon Steel's $15 billion acquisition of American AB/DQ63 Steel Steel Company, and there were differences of opinion during the review process. In the first review by the Committee on Foreign Investment in the United States, former President Joe Biden vetoed the deal in January this year on national security grounds. Nippon Steel's intention to acquire US Steel began in December 2023, and in the subsequent process, it not only underwent two rounds of national security reviews by the Committee on Foreign Investment in the AB/DQ63 Steel United States, but also faced strong opposition from US Congress members and the United Steelworkers. It is worth mentioning that Nippon Steel has promised to invest billions of dollars in this 120 year old steel company, including plans to invest $4 billion to build a new steel plant.
