Trump’s approval of Nippon Steel’s $14 billion takeover of U.S. Steel reverses his prior opposition and lacks enforceable protections for American jobs.
At a Glance
- Nippon Steel will acquire U.S. Steel under a $14 billion deal greenlit by Trump
- The agreement lacks written guarantees for job creation or American ownership
- U.S. Steel’s CEO is set to make $72 million, while workers had no say
- The United Steelworkers union voiced concern over foreign ownership and trade law violations
- Even Fox News commentators questioned the deal’s national security implications
A Patriotic Sale—or a Foreign Takeover?
Donald Trump’s surprise endorsement of the Nippon Steel acquisition of U.S. Steel marks a dramatic reversal from his earlier opposition to foreign ownership of strategic American assets. The former president pitched the $14 billion deal as a “planned partnership” that would create 70,000 jobs and inject massive capital into the U.S. economy. But no legally binding provisions enforce those claims, raising fears the benefits are more marketing than material.
Despite promising American leadership and oversight, the fine print reveals the company will be wholly owned by Japan’s Nippon Steel Corporation. Critics have pointed to inconsistencies in Trump’s messaging, including his insistence the deal is a partnership while even U.S. Steel’s corporate communications label it a merger.
Watch a report: Trump’s U.S. Steel Deal Faces Blowback.
Executive Payday, Worker Uncertainty
While rank-and-file steelworkers received no consultation in the process, U.S. Steel CEO Dave Burritt is slated to walk away with $72 million in personal compensation. The deal’s announcement sent company stock surging over 20%, boosting shareholder value while leaving workers with nothing more than vague promises.
The United Steelworkers union has condemned the transaction. President Dave McCall cited Nippon’s “proven track record of violating our trade laws” and warned that the deal could erode domestic steelmaking capacity and eliminate union jobs. The union’s exclusion from negotiations adds to the backlash, highlighting deep skepticism over the deal’s long-term implications.
Even Fox News Cries Foul
Trump’s base is showing cracks. Even Fox News anchor Laura Ingraham—long a vocal supporter—questioned the fundamentals of the deal. “If a Japanese company takes over a U.S. company, how does the U.S. have control?” she asked, pointing to the murky “Golden Share” mechanism Trump claims will allow the U.S. Treasury veto power on national security decisions. Experts note the lack of clarity surrounding that clause and the absence of enforcement mechanisms if promises aren’t met.
The administration’s surprise rollout of the deal, reportedly bypassing senior trade officials, has also drawn scrutiny. With no congressional oversight and no worker protections, the acquisition seems to many like a rerun of Trump-era photo ops: flashy headlines, few deliverables.
Amid a growing chorus of dissent, the steel deal may serve as a litmus test for how far populist rhetoric can mask the consequences of elite-driven economic policy. For now, the winners appear to be foreign investors and corporate executives—not the American workers Trump once vowed to defend.
