AXIOS (Dan Primack) - U.S. Steel, one year after the sale to Japan's Nippon Steel
It's been just over a year since Japan's Nippon Steel bought U.S. Steel, after agreeing to invest $11 billion into the Pittsburgh-based icon by the end of 2028. - Thus far, almost all of that money remains a promise. By the numbers: Nippon had invested less than $200 million through the end of March, according to recent disclosures. - It expects to have invested a total of $580 million through the end of August, as part of $3.2 billion in approved projects (the largest of which isn't slated to end until early 2029). - Nippon reaffirmed its $11 billion investment pledge, but didn't provide allocation info on the remaining $7.8 billion. Catch up quick: The Biden administration had blocked Nippon's acquisition on national security grounds…
| Keywords | trumpus-steelnippon-steeljapanmanufacturingtariffsnational-securityeconomyinvestmentwhite-housetrade-policybusinesspoliticssteelpittsburghglobal-tradeeconomic-policysupply-chain |
