The successful merger of U.S. Steel with Nippon Steel of Japan will go down as one of the big business stories of the year. On Minnesota’s Mesabi Iron Range, the deal holds special meaning. It will bring in significant investment to aging taconite plants at Keewatin and Mountain Iron, but it’s hard to say what that will mean for long-term employment and technological development of the iron and steel industry.
Let’s call it a moderate risk with a high ceiling until proven otherwise.
Normally we could leave it at that, but the way the deal came together raises important questions about how things work now. I wrote about the potential implications last month, but now that the deal is actually done we can ask a really good question:
“Did President Trump just nationalize U.S. Steel?“
Read more in the Saturday, June 21, 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.
