President Trump orders review of review of U.S. Steel acquisition by Nippon Steel

President Donald Trump has ordered the Committee on Foreign Investment to review the potential acquisition of U.S. Steel by Nippon Steel.

It’s a review that could have a significant economic impact on Western PA and the Mon Valley.

In January, the Biden administration issued an order prohibiting the acquisition, after a review by the same Committee on Foreign Investment cited national security concerns. U.S. Steel and Nippon are challenging that order in court.

Clairton Mayor Richard Lattanzi worked for U.S. Steel for 30 years. He says President Trump ordering the Committee on Foreign Investment to review the merger is a win for the Mon Valley and the greater Pittsburgh region.

“You couldn’t create a better story,” Mayor Lattanzi said. “I thought the deal was great three months ago. Now, Nippon just said recently they may throw another $7 billion in.”

Mayor Lattanzi says if the deal is approved, Nippon would invest billions in our backyard, hinting at what that could look like.

“They just recently added some more promises to monies,” Mayor Lattanzi said. “I’m hearing rumors about a possible new battery in Clairton, a new hot mill at Edgar Thomson and possibly greener gas.”

But environmental groups, including the Breathe Project, say talks of Nippon’s potential investments are vague and don’t address ongoing negative health impacts from outdated facilities or climate pollution. You can read the full statement below.

U.S. Steel issued the following statement to Channel 11:

“We appreciate and commend President Donald Trump’s leadership. His action today validates our Board’s bold decision to challenge President Biden’s unlawful order. 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.”

The Allegheny Conference sent Channel 11 the following statement from CEO Stafani Pashman on behalf of the Board of Directors:

“We remain optimistic that this deal will come together. The transformational investment in the Pittsburgh region by Nippon Steel reinforces our region’s legacy as a global center of advanced manufacturing and innovation.

As we outlined in the Amicus Brief filed earlier this year, Nippon’s proposed investment is one that will have a direct impact on our entire region’s economy and quality of life – a place that forged the steel that built the bridges, buildings, and other structures that made our country what it is today. Importantly, we believe that it is vital the deal comes with the commitment that U.S. Steel’s headquarters will remain, appropriately, in Pittsburgh. We appreciate the Trump administration and our region’s public and private sector leadership for advocating for this investment, which aligns with our shared goal of maintaining a competitive and resilient domestic steel and manufacturing industry in our region and country. A strong U.S. Steel, backed by significant capital investment, benefits not only our local workforce but also the broader American economy.

We are committed to fostering an environment where businesses can grow, people and communities can succeed, and the Pittsburgh region continues to lead in industrial innovation.”

Full statement from the Breathe Project:

“Today’s announcements that the Trump administration ordered another CFIUS review of the proposed U.S. Steel / Nippon Steel terms as well as updated statements about the proposed plant investments totaling $7 Billion foreground key questions that must be addressed with transparency ASAP:

• What, specifically, is being proposed with these investments in terms of plant designs and operations?
• To what extent will these investments address ongoing, negative health impacts from outdated facilities WHILE ALSO addressing necessary climate pollution that will guarantee the investments will not become stranded assets in the near future?
• To what extent are impacted community members being consulted in these discussions, not just proxy representatives receiving campaign money from U.S. Steel?
• To what extent will the $7 Billion involve investments in the communities themselves where the plants are located to address past and present neglected health, infrastructure, and quality of life needs of Mon Valley Communities?

These questions must be addressed because of many years of underinvestment in operations, kicking the can down the road and lack of attention to the broad strategic landscape for the worldwide steel industry.

Even today, Nippon’s pledges lack specifics about improving the short-term community health needs from leaking plants and a long-term vision of regional viability on a carbon-free steel manufacturing platform suitable for 21st century competitiveness.

The Breathe Project recommends that U.S. Steel and regional leadership consider and include the voices of the residents of the Mon Valley – not just the politicians who depend upon the company for campaign contributions – in conversations for what is good for the community and for business.”

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