Trump approves American steel acquisition by Japanese company Nippon Steel for $14.9 billion.

On Friday, U.S. President Trump formally approved the deal for a Japanese steel company to acquire an American steel company for $14.9 billion. Trump signed an executive order stating that if both parties sign an agreement with the U.S. Treasury to address national security concerns in the transaction, then the acquisition can proceed. Subsequently, both companies announced that they have signed the relevant agreements, meeting the requirements of the executive order, meaning the deal has received official approval. According to reports, the agreement includes plans to invest $11 billion by 2028, covering governance structure, capacity guarantees, and trade commitments. Both parties also noted that the U.S. government will receive a "golden share," but did not disclose further details. The acquisition is said to inject crucial investment into the struggling American steel company and also provide the Japanese steel company with an opportunity to participate in numerous infrastructure projects in the United States. Meanwhile, its foreign competitors are facing steel tariffs as high as 50%. This approval also exempts the Japanese steel company from paying a $565 million break-up fee in case the deal fails.