Trump leaves US Steel deal details up in the air, but raises steel tariffs

President Trump spoke for more than an hour on Friday at a U.S. Steel facility in Pennsylvania, but never explicitly said if he's approved a deal whereby Japan's Nippon Steel would acquire U.S. Steel for $14.9 billion.Why it matters: This prolongs a 16-month saga that included lawsuits, intra-union dissension, conflict between geopolitical allies, and literal shouting.Trump did, however, announce plans to increase tariffs on steel imports to 50% from 25%.Zoom in: Trump repeatedly referred to a planned "partnership" between Nippon and U.S. Steel, without explaining what that would mean.Prior reporting suggests that it could mean the deal goes through, but with Nippon Steel pledging over $14 billion in new investments.U.S. Steel also would have an American CEO and an American majority on its board of directors, while the U.S. government would get a so-called "golden share" that would let it prevent actions deemed to be against the country's interests.Yes, but: It isn't yet clear how the board of a U.S. subsidiary could force Nippon to invest the money, were it to change its mind after the merger closes.Steelworkers union officials had warned that an earlier agreement would have allowed the Japanese company out of its investment commitment without cause.Catch up quick: Former president Biden blocked the merger on national security grounds, while Trump also opposed it during last year's campaign.What he's saying: Trump told the crowd in Pennsylvania that there's "a lot of money coming your way," and confirmed the $14 billion figure.Neither U.S. Steel nor Nippon Steel have issued any public statements on Friday about the merger.The United Steelworkers union said in a statement that it hasn't participated in any discussions with the White House or either company, and doesn't know what the final arrangement includes.Go deeper: Why Trump needs Pittsburgh right now

Comments

World news

'I donated my mum's body to Alzheimer's research what happened next was horrifying'

Express

Comments

Similar News

Paramount, a proud Latino suburb, thrust into center of Trump crackdown

In photos: Trump deploys National Guard to LA as ICE raid protests flare for 3rd day

LA protests LIVE: National Guard deployed as Trump cracks down on demonstrators

Trump orders law enforcement to ‘liberate’ LA from ‘migrant invasion’ amid clashes over ICE raids

'Have my house' - Usyk invites Trump to witness Ukraine war

Trump stumbles on steps up to Air Force One

Chabria: The insurrection that wasn't, and other Trump fantasies

Speaker of U.S. House of Representatives downplays Musk’s influence on Trump’s tax and budget bill

Trump calls Musk ‘big-time drug addict’ according to report, as feud shows no sign of ending

Trump’s tax and budget bill was written for ‘hardworking Americans, not ‘to please’ Musk: Mike Johnson

ABC News suspends journalist after calling Trump and adviser ‘world-class’ haters

What to know about Trump’s deployment of National Guard troops to LA protests

A quirky vegetable sculpture contest features a squash Donald Trump and a papal 'Cornclave'

Elon Musk 'has PTSD from Trump's White House' as dad reveals one huge regret

ABC suspends reporter who interviewed Trump after devastating analysis of president – and Stephen Miller

Papal ‘Cornclave’ and squash Trump featured in U.K. veggie sculpture contest

U.S. National Guard setting up in L.A. at Trump’s behest following ICE protests

Trump uses LA protests to redirect dissent from policy failures to the ‘enemy within’

Trump's quick intervention in LA may thrill his base but inflame the US

‘The stuff of dictatorships’: Trump admin threat to deploy military to LA protest met with angry reactions

World news

'I donated my mum's body to Alzheimer's research what happened next was horrifying'

LA riots LIVE: Trump puts US Marines on standby to take on anti-deportation protesters

Ukraine LIVE: Putin humiliated as Russian war facility explodes into fireball after attack

Chilling warning issued as West in 'race against time' amid Iran nuclear bomb fears

Russia is already at war with Britain and we can no longer rely on Trump, defence adviser warns

Ukrainian boxer Oleksandr Usyk invites Trump to ‘live in my house’ to experience Russian war

Ukraine-Russia war latest: Poland scrambles aircraft after Moscow launches air strikes on western Ukraine

Israeli military intercept 'Freedom Flotilla' Gaza aid boat carrying Greta Thunberg

Contractor in Syria uncovers a surprise beneath the rubble: an ancient tomb complex

Explosion at a US air base in southern Japan injures 4 Japanese soldiers

How four children survived a plane crash that killed every adult on board

I’m suffering ‘micro stress’ – but there is a simple way to cope

Tennis needed Jannik Sinner to lose this epic French Open final

UK told to act amid fears Putin may use nuke 'in next 5 years' - and not on Ukraine

We ditched UK for £250k home abroad with swimming pool - without seeing it first

Apple heads into annual showcase reeling from AI missteps, tech upheaval and Trump's trade war

Shoppers are wary of digital shelf labels, but a study found they don't lead to price surges

Fury at immigration raids, boots on the ground, and a political dogfight: What to know about LA protests

Greta Thunberg accuses Israel of ‘kidnap’ while carrying aid for Gaza

Israel intercepts Gaza-bound aid boat carrying Greta Thunberg: ‘The show is over’

BET Awards to celebrate 25th anniversary with major star power from Kendrick Lamar to Mariah Carey

The North-South divide in transport funding – mapped

I earn £20k and have no savings. Can I quit my job and make my money as a landlord?

My boss was bitching about me on Slack – and accidentally sent the message to me

Nurseries putting children in care of apprentices amid staff shortages

I’m 50 and have £18k in a workplace pension, should I get a SIPP as well?

My husband and I have been happily married for 37 years – but we don’t live together

How I Manage My Money: Firm owner, on £2.7k, who adds £1.2k a month to pension

Gloria Estefan: The reason I haven’t talked about my sexual abuse until now

The striker Arsenal should sign to win the Premier League

The crowd-free hiking holiday with a dramatic rail journey and Spain’s best food

How the LA clashes unfolded... in 60 seconds

South Korea's Maybe Happy Ending wins six Tony Awards

U.S. and China to Meet at Precarious Moment in Trade War

Ukraine-Russia war latest: Trump redirects Kyiv’s 20,000 anti-drone missiles while Putin’s troops advance in Sumy

As the UN Ocean Conference opens in France, a push to turn promises into protection

Gaza-bound aid boat carrying Greta Thunberg and other activists 'diverted to Israel'

Israeli forces intercept Gaza-bound aid ship carrying Greta Thunberg

Greta Thunberg Madleen boat branded 'a selfie yacht' as Israel hits back at activists

How LA erupted over rumours of immigration raid at a hardware store

Israel Intercepts Gaza-Bound Aid Ship With Greta Thunberg Aboard

Greta Thunberg Gaza flotilla: 'We have been intercepted and kidnapped' by Israeli forces

IDF prevents aid boat carrying Greta Thunberg, other activists from reaching Gaza

Greta Thunberg's harrowing SOS video in FULL as activist says 'we've been kidnapped'

Greta Thunberg Gaza flotilla: 'We have been intercepted and kidnapped' by Israeli forcess

LA protests LIVE: National Guard deployed as police use rubber bullets against protestors

Paramount, a proud Latino suburb, thrust into center of Trump crackdown

Madleen aid boat LIVE: Contact lost with Greta Thunberg's vessel as 'chemicals dropped on activists'

The forgotten story of India's brush with presidential rule

Israeli troops board aid ship bound for Gaza, activists say

Attack on Colombia Senator, Miguel Uribe Turbay, Caught on Video

Alcohol consumption in Ireland falls by almost 5% in a year

DNC chair unloads on David Hogg in Zoom call: ‘It’s really frustrating’

In photos: Trump deploys National Guard to LA as ICE raid protests flare for 3rd day

Zelenskyy singles out 'hard pressure' from U.S. as pivotal to ending Russia's war with Ukraine

Italians vote on citizenship and job protections in referendums threatened by low turnout

The US territory where locals want to join Spain and become 'like the Canary Islands'