Trump signs order on steel
WASHINGTON (AP) — President Donald Trump has signed the order paving the way for the Nippon investment, so long as the Japanese company complies with a “national security agreement” submitted by the federal government.
Trump’s order did not detail the terms of the agreement. But U.S. Steel and Nippon said in a joint statement that it stipulates that approximately $11 billion in new investments will be made by 2028 and includes giving the U.S. government a “golden share” — essentially veto power to ensure national security interests are protected.
“This partnership will bring a massive investment that will support our communities and families for generations to come,” the companies said. “We look forward to putting our commitments into action to make American steelmaking and manufacturing great again.”