Japan’s Nippon Steel Corp. is expected to buy US Steel for $55 per share, CNBC reported on Tuesday. United States President Donald Trump backed the deal last week, stating that the merger will create 70,000 jobs and add $14 billion to the US economy. Nippon Steel first proposed the $14.9 billion deal in 2023, which was accepted by US Steel later that year. Outgoing US President Joe Biden blocked it in January 2025, shortly before the end of his term, although the executive order was delayed following a lawsuit by both companies, leaving the final decision to Trump.