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United States Steel (USS) has terminated its trading on the New York Stock Exchange and will become a wholly owned subsidiary of Nippon Steel.

2025-06-19

According to Jiemian News reported on June 18, Nippon Steel and U.S. Steel announced on June 18 that they have completed their historic cooperation. The partnership will protect and create more than 100,000 jobs, and through large-scale investment, U.S. Steel will be able to fully develop its steelmaking operations in Pennsylvania, Indiana, Arkansas, Minnesota and Alabama.

According to the announcement, Nippon Steel will make about $11 billion in new investments in U.S. Steel by 2028; U.S. Steel will remain a U.S.-registered entity and will remain headquartered in Pittsburgh, Pennsylvania; A majority of U.S. Steel's board of directors will be U.S. citizens; U.S. Steel's key executives, including its CEO, are U.S. citizens; U.S. Steel will maintain the ability to produce and supply steel at its U.S. manufacturing site to meet demand in the U.S. market; Nippon Steel will not prevent, prohibit or otherwise interfere with U.S. Steel's ability to take trade actions under U.S. law.

U.S. Steel shares officially ceased trading on the New York Stock Exchange on Wednesday as Japan's Nippon Steel completed its acquisition of the iconic U.S. industrial company, Sina Finance reported on June 18.

According to CCTV news, on the 18th local time, Nippon Steel announced that it had completed the acquisition process of U.S. Iron and Steel. Nippon Steel acquired 100% of U.S. Steel, making it a wholly owned subsidiary of Nippon Steel.

On January 3, then-U.S. President Joe Biden signed an executive order to formally block Nippon Steel's acquisition of U.S. Steel on national security grounds. On January 6, the two companies formally filed a lawsuit against Biden and the Committee on Foreign Investment in the United States, asking the court to revoke Biden's buyout blocking order and re-examine the takeover. On May 23, Trump said U.S. Steel and Nippon Steel would enter into a "planned partnership."