Trump called it a disaster. Biden blocked it. Now Trump is traveling to Pittsburgh to celebrate Japan’s takeover of US Steel
CNN
President Donald Trump travels to Pittsburgh Friday to celebrate a deal he once vowed to oppose - Japanese steelmaker Nippon Steel’s long-announced plans to buy iconic American steelmaker US Steel.
President Donald Trump travels to Pittsburgh Friday to celebrate a deal he once vowed to oppose - Japanese steelmaker Nippon Steel’s long-announced plans to buy iconic American steelmaker US Steel. The deal to have a Japanese company purchase US Steel has drawn bipartisan opposition. President Joe Biden blocked the deal on national security grounds shortly before he left office. But a week ago, Trump announced he would approve the deal, although he described it as a “partnership” between the two companies, not a purchase. When asked Sunday about the deal, he told reporters “It’s an investment, and it’ll be a partial ownership (by Nippon.)” “It will be controlled by the United States, otherwise I wouldn’t make the deal,” he said. Trump is set to appear at a US Steel plant just outside of Pittsburgh Friday evening. The appearance, and his latest announcement, appears to clear the way for the controversial deal at a time that long-time allies Japan and the United States find themselves in the middle of a trade war. Trump is threatening increased tariffs on US imports from Japan and has already imposed tariffs on all steel imports. It also introduces foreign ownership to a company that was once a symbol of American industrial might that has become a struggling afterthought in the modern US economy. US Steel CEO David Burritt and Nippon vice chairman Takahiro Mori both praised Trump at a rally at a US Steel mill ahead of the president’s arrival Friday. Mori called the deal a “game changer for the next generation of steelmaking.”
The European Union agreed Wednesday to phase out Russian natural gas imports by late 2027 as part of an effort to end the bloc’s decade-long dependency on Russian energy.
US wireless carrier AT&T said in a letter to the US telecoms regulator that it had committed to ending diversity, equity and inclusion programs, a move that comes as it seeks approval from the Trump administration to buy wireless spectrum assets.
Larry Summers has been banned for life from the American Economic Association, a professional organization for economists, with more than 17,000 members, over his ties to the late sex offender Jeffrey Epstein.
The US labor market has weakened over the course of the year as hiring has stalled across many industries. The national unemployment rate has ratcheted higher in the process, hitting 4.4% in September.
Michael and Susan Dell are donating $6.25 billion to fund investment accounts for at least 25 million American children.
Gas prices dropped below an average of $3 a gallon in the United States on Tuesday for the first time in four-and-a-half years.
The United States appears ready for war with Venezuela, a prospect that Venezuelan President Nicolás Maduro this weekend attributed to America’s desire to control the country’s vast oil reserves.
Pete Hegseth’s hostility toward the press has been a defining characteristic of his time as defense secretary.
Crypto had a rough November. The pain is persisting into December — and it could signal trouble ahead for the stock market.
Airbus has identified an issue affecting “a limited number” of metal panels in its A320 passenger planes, a spokesperson for the company said Monday, just days after warning of another technical problem in its aircraft.
Teddy bears and stuffed plushies have long been a mainstay in toy collections. But today they don’t talk back in a child’s imagination — they talk through built-in AI chatbots.
Revenues at China’s giant military firms fell last year as corruption purges slowed arms contracts and procurement, according to a study released on Monday by a leading conflict think tank.
Walt Disney Animation’s “Zootopia 2” and Universal’s Broadway musical adaptation “Wicked: For Good” delivered movie theaters a much-needed one-two punch for the holiday weekend box office.