Nippon Steel has announced that it has reached an agreement with the U.S. government to resolve national security concerns related to its planned acquisition of U.S. Steel. This significant development paves the way for the long-contested deal to proceed, following a revised executive order issued by U.S. President Donald Trump on June 13 (U.S. Eastern Time).

The agreement stipulates that the acquisition can move forward provided Nippon Steel adheres to specific terms set by the U.S. government within a comprehensive national security framework. Key provisions reportedly include Nippon Steel issuing a "golden share" to the U.S. government, granting it veto power over major management decisions, thereby ensuring American oversight of this critical national asset. Furthermore, Nippon Steel has unveiled a substantial investment plan, committing approximately 11 billion U.S. dollars through 2028 to modernize aging production facilities and construct new steel plants within the United States. The overall deal between US Steel and Nippon Steel involves investments totaling 18.3 billion dollars by 2028.

Nippon Steel has confirmed that all conditions required to make U.S. Steel a wholly owned subsidiary have now been fulfilled. The Japanese government has expressed its support for the decision, emphasizing that the deal is expected to enhance innovation capacity within the steel industries of both nations and further strengthen the close partnership between Japan and the United States.

The acquisition bid, initially announced in December 2023, faced considerable resistance from its inception. Former U.S. President Joe Biden had previously blocked the acquisition in January, citing national security concerns. The turning point occurred in April 2024, when President Trump ordered the Committee on Foreign Investment in the United States (CFIUS) to conduct a re-review of the case, ultimately leading to the current approval.