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.
