Trump changes stance on deal between Japan Railways and US Steel

BlockBeats News: On May 24th, US President Trump announced on May 23rd that US Steel Corporation and Japan Steel Corporation will reach a "planned partnership", with Japan Steel investing in US Steel while US Steel will continue to "stay in the United States". Trump announced in a post on the same day that the headquarters of American Steel will continue to stay in Pittsburgh, Pennsylvania. This will be a partnership between US Steel and Nippon Steel, which will create at least 70000 jobs and add $14 billion to the US economy. Most of the investment will be completed within the next 14 months The Financial Times reported that last week, Nippon Steel agreed to triple its investment in American steel as a final effort to persuade Trump to change his stance. Nippon Steel subsequently issued a statement saying that Trump's decision would be a major turning point for the US steel industry and even the entire US manufacturing industry. Xinhua News Agency