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Nippon Steel vows $14 billion investment if US merger gains approval

  • By Al Mayadeen English
  • Source: Agencies
  • 20 May 2025 08:55
3 Min Read

Nippon Steel pledges $14 billion for US Steel operations, including a new plant, if Washington approves its blocked acquisition amid national security concerns.

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  • A staff enters doorway next to Nippon Steel logo at the company's Kashima Plant in Kashima, Japan on December 6, 2024 (AP/Ayaka McGill)
    A staff enters doorway next to Nippon Steel logo at the company's Kashima Plant in Kashima, Japan on December 6, 2024 (AP/Ayaka McGill)

Japanese steel giant Nippon Steel has announced plans to invest $14 billion into US Steel operations, including up to $4 billion toward building a new plant, on the condition that the US government reverses its decision to block the merger, according to sources cited by Reuters.

Nippon Steel originally declared its intent to acquire US Steel for $14.1 billion in December 2023. The deal would have seen the American firm become a subsidiary of the Japanese corporation. However, the proposed acquisition immediately drew scrutiny from the Biden administration, which cited potential risks to national security and disruptions to critical supply chains as key concerns.

In spring 2024, US Steel confirmed that a majority of shareholders had backed the sale. By May, both companies had secured regulatory approval in all jurisdictions outside the United States. That same month, Nippon Steel unveiled a $2.7 billion investment plan targeting US Steel’s production facilities in Pennsylvania and Indiana.

Yet despite these commitments, the Committee on Foreign Investment in the United States (CFIUS) announced in December 2024 that it had failed to reach consensus on whether the acquisition posed national security risks. The committee referred the final decision to former US President Joe Biden.

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In early January, Nippon Steel responded with a revised proposal, offering a 10-year guarantee that it would not reduce production capacity at US Steel plants in six key states, Pennsylvania, Indiana, Alabama, Texas, California, and Arkansas, without first obtaining approval from a Treasury Department committee.

Nonetheless, on January 3, former US President Biden officially blocked the deal, calling the acquisition a threat to national security. US Steel CEO David Burritt condemned the decision, labeling it “a disgrace” and “an act of political corruption.”

Legal action follows US block on merger

Following the White House decision, Nippon Steel and US Steel initiated legal action. One lawsuit, filed in the US Court of Appeals for the District of Columbia Circuit, accuses the administration of violating constitutional protections and alleges unlawful political interference. The plaintiffs are seeking to overturn Biden’s decision.

A second lawsuit, filed in the US District Court for the Western District of Pennsylvania, targets rival firms Cleveland-Cliffs and the United Steelworkers (USW) union. The suit accuses both parties of coordinating efforts to sabotage the deal through "unlawful and collusive" behavior.

Nippon Steel maintains that its proposed investment would significantly bolster the US steel industry and support jobs across multiple states if the merger is allowed to proceed.

  • United States
  • Nippon Steel
  • Japan
  • US Steel

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