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Nippon Steel and US Steel Embrace—Again

Nippon Steel and US Steel Embrace—Again
President Donald Trump (2L) tours U.S. Steel–Irvin Works in West Mifflin, Pa., on May 30, 2025. Saul Loeb/AFP/Getty Images
Milton Ezrati
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Share prices of U.S. Steel surged on the news that Japan’s Nippon Steel will at last acquire the company. Well, share values should rise. Without a deal, U.S. Steel was staring bankruptcy on the face. Now shareholders will get some $14 billion from Nippon, far more than the company’s market capitalization and than any potential buyer has offered in the past. Nippon has also pledged assurances to make the deal attractive to U.S. Steel employees and the federal government in Washington.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."