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Justin Meriman | Bloomberg | Gets the image
President Donald Trump on Friday cleared the merger US steel and Nippon SteelAfter the previous application of the Japanese steel manufacturer acquired its rival in the USA blocked in national security.
“This will be a planned partnership between the US and Nippon Steel, which will create at least 70,000 jobs, and will add $ 14 billion to the US,” Trump said on his social media platform. The truth is social.
The President said the Pittsburgh will remain in the US -Kvateter, and the majority of investments will take place in the next 14 months. Following Trump’s announcement after Trump’s announcement, the US shares increased by more than 20%to close $ 52.01 per share.
President Joe Biden blocked Nippon Steel from $ 14.9 billion in January, citing quotes Problems with national security. Biden at the time stated that the acquisition would create a risk to network supplies that are crucial for the US
Trump, however, ordered A new review of the proposed acquisition In April, he sent a Committee on Foreign Investing to the United States to determine what, “whether further actions in this matter correspond to.”
Trump said he would hold a rally in Pittsburgh on May 30.
