The proposed merger, blocked by former President Biden, has caused uncertainty in Pennsylvania.
President Donald Trump recently ordered the Committee on Foreign Investment to review the potential acquisition of U.S. Steel in Pittsburgh by Japanese-owned Nippon Steel.
Former President Biden blocked the merger in January, citing national security concerns and the importance of the steel manufacturer remaining domestically owned. U.S. Steel and Nippon Steel are challenging Biden’s order in court.
Clairton Mayor Richard Lattanzi, who worked for U.S. Steel for 30 years, supports the President’s order for a new review of the proposed merger.
In a recent interview, he said, “You couldn’t create a better story. I thought the deal was great three months ago. Now, Nippon just said recently they may throw another $7 billion in.”
The acquisition of U.S. Steel by Nippon Steel has the potential to invest billions of dollars into Pennsylvania’s economy, which would benefit the Mon Valley and the greater Pittsburgh region.
U.S. Steel said in a statement following Trump’s announcement, “Today’s decision by President Trump is pivotal as we work to deliver on new and historic levels of investment in American steelmaking. We look forward to continuing to work closely with President Trump and his Administration to finalize this significant and important investment, which will preserve existing jobs, create new jobs, enhance national security and secure a bright future for American manufacturing.”
Nippon Steel said that “an objective, fact-based review of our proposed partnership with U.S. Steel will show that it strengthens American economic and national security so that U.S. Steel remains a proud American company.”
President Trump has also opposed the deal in the past, encouraging Nippon Steel to restructure the deal so that the company would invest in U.S. Steel without owning it.
Nippon Steel executives had said they would discuss options with the U.S. government, but that a joint venture would limit the company from fully deploying its technology and operational strategies.
The White House said the new review will assist President Trump in determining whether further action would be appropriate.
