Trump signs executive order to clear way for Nippon-US Steel deal
Companies hail ‘historic partnership’ to bring ‘massive investment’ but details of agreement remain unclear
Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in US Steel, 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 national security agreement. But US Steel and Nippon Steel said in a joint statement that the agreement stipulates that approximately $11bn in new investments will be made by 2028 and includes giving the US government a “golden share” – essentially veto power to ensure the country’s national security interests are protected. Continue reading...
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