Last Friday, as Memorial Day weekend was just about to hit, President Donald Trump announced in his haphazard way that he supported a relabeled version of Nippon Steel’s proposal to buy U.S. Steel.
U.S. Steel owns and operates the country’s largest iron ore mine at Minntac in Mountain Iron. It also runs Keewatin Taconite, where it makes DR-grade pellets for newer steel mills. U.S. Steel is also a minority owner of Hibbing Taconite, which is run by its majority owner, Cleveland-Cliffs.
You’ll have to believe me that I had a lot to say about it back then, but the realities of my new publishing schedule means that the column is running today.
This is a big deal. Ultimately, I argue it’s good for the long-term health of U.S. Steel and value-added iron production on the Iron Range. But we’re not out of the woods yet. Nippon remains a Japanese company dancing around its so-called partnership with a company it is essentially acquiring. Cliffs is wounded by this, as is the United Steelworkers of America union. They’re important, too. My general suspicion that the Range is heading for another period of consolidation remains in effect.
Plus, it has been amusing to watch so many people develop an entirely new opinion now that Trump has supported something he used to oppose. There’s another angle to the story there, one that relates to much more than just this deal.
Read more in “The good, bad and ugly of Trump’s blessing U.S. Steel, Nippon deal” in the Wednesday, May 28, 2025 edition of the Minnesota Star Tribune.
Aaron J. Brown is a columnist and member of the editorial board for the Minnesota Star Tribune. His new book about Hibbing Mayor Victor Power and his momentous fight against the world’s largest corporation will be out soon.
One response to “Nippon-US Steel deal will be transformative for Range, though risk remains”
Trump extracted far more than was initially offered. Nippon offered 5000 bonus to USW workers and about $10 billion in new investment. Now, with Trump Administration dealings Nippon has committed to no facility closings for 10 years, added upgrading the Indiana blast furnaces with another $4 billion, and Nippon agreed to subsidiary corporate control in Pittsburgh with an American board and American management.
None of that would have been given by Nippon without the Trump tariff regime. Nippon NEEDS an American presence to beat tariffs, help the Japanese car customers add US content, and they want access to provide steel for govt and military contracts.
Biden couldn’t have pulled that off, and would have allowed Cliffs and the bought and paid for USW National lackeys to buy a desperate US Steel, close both blast furnace plants, fire thousands, and consolidate the Range and fire miners, and be the sole contract negotiator against USW miners on the Range.
God bless Donal Trump. God bless the Iton Range, and God bless United Steel Workers (and f4ck USW National).
Drop the TDS for 5 seconds and look thru the lens of “what employes the most people and supports the most communities” and ypu will understand exactly why Trump send Cliffs packing.