Steel Mills

Nippon eyeing new $4B U.S. Steel mill to sweeten deal: Report

Written by Ethan Bernard

May 19, 2025

Nippon Steel could build a new domestic U.S. Steel mill with a total investment of $4 billion as part of a $14-billion plan to invest in USS operations to help sway the Trump administration to OK Nippon’s deal for the company, according to a report in Reuters.

The news agency cited a “document” and three people familiar with the matter on Monday.

“Under details of the plan included in the document, the company will plow $11 billion into U.S. Steel’s infrastructure through 2028,” the article said. “That includes $1 billion in a greenfield site, which is expected to grow by $3 billion over the following years and has not been previously reported.”

The article also states the new Committee on Foreign Investment in the United States (CFIUS) decision is due May 21.

Recall that the first review resulted in a split decision in December and the deal was subsequently blocked by the Biden administration.

President Donald Trump has said that he does not want U.S. Steel owned by a foreign company.

Requests for comment from U.S. Steel and Nippon Steel were not returned by time of publication.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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