President Donald Trump has approved the acquisition of United States Steel Corporation by Japan-based Nippon Steel Corp., marking what he described as the “largest investment in the history of the Commonwealth of Pennsylvania.”
The deal, described as a "strategic partnership," will see U.S. Steel retain its American identity and Pittsburgh headquarters "will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy. The bulk of that Investment will occur in the next 14 months," according to Mr. Trump.
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