Lates News

On May 23, President Trump stated that American steel company and Japanese steel company will establish a "planned partnership". Japan Iron and Steel will invest in American steel and American steel will continue to "stay in the United States." Trump posted on the social media platform "True Social" that the headquarters of American steel will remain in Pittsburgh, Pennsylvania. "This will be a planned partnership between American steel and Japan Iron and Steel, which will create at least 70,000 jobs and add $14 billion to the US economy. Most of the investment will be completed within the next 14 months." The British Financial Times reported that Japan Iron and Steel had agreed to triple its investment in American steel as a last effort to convince Trump to change his position. Trump said he would travel to Pittsburgh before May 30 to attend a large event at American steel. Japan Iron and Steel later issued a statement saying that Trump's decision would be a major turning point for the American steel industry and even the entire American manufacturing industry. The US Politico reported that Trump's remarks overturned his stance during his presidential campaign and overturned former President Biden's actions to prevent this acquisition before leaving office. (Xinhua News Agency).