Japan’s steelmaker Nippon Steel has finalized its US$14.1 billion acquisition of U.S. Steel, a deal first announced in December 2023. U.S. Steel will retain its name and Pittsburgh headquarters.

The US government now holds significant influence over the company. President Trump has veto power over decisions to idle plants, reduce production, or cut staffing. Trump earlier opposed the deal, while he later framed it as an "investment" by Nippon instead of an outright purchase.

The acquisition was previously blocked by former President Biden due to national security concerns. Nippon Steel has promised another investment totaling US$14 billion after its initial commitment of US$11 billion in new investments by 2028.

Although some local union officials supported the revised terms, the United Steelworkers union (USW) continues to express concerns.