Reported 25 days ago
President Trump announced on Truth Social that U.S. Steel will partner with Japan's Nippon Steel, promising to create 70,000 jobs and contribute $14 billion to the U.S. economy. Following his announcement, U.S. Steel's stock rose by 21%, reflecting strong investor confidence, while shares of Cleveland-Cliffs, which sought to acquire U.S. Steel, declined. This decision comes after the Biden administration previously blocked a $14.1 billion merger between the two companies due to national security concerns.
Source: YAHOO