President Trump announced US control over US Steel despite its partnership with Nippon Steel, involving a $14 billion investment and a new steel mill. Trump claims the deal, creating the world's third-largest steel producer, will generate 70,000 jobs and remain under US control, although details are scarce. Investors anticipate a cash payout for their shares, similar to a 2023 agreement. The deal, initially raising concerns about foreign ownership and job losses in Pennsylvania, has become a significant event on Wall Street.
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