Trump is set to deliver his remarks at 5 p.m. ET on Friday at a U.S. Steel facility in Pennsylvania, a key swing state he carried in the 2024 election.

The White House is sending fresh signals on Nippon Steel’s proposed acquisition of U.S. Steel (X), with the President set to speak Friday at a Pittsburgh rally celebrating what he called a “planned partnership.”

U.S. Steel’s stock rose nearly 1% after the President’s schedule was announced.

Trump is set to deliver remarks at 5 p.m. ET on Friday at a U.S. Steel facility in Pennsylvania, a key swing state he carried in the 2024 election. The White House said he will speak about the “U.S. Steel Deal.”

Supporters of the transaction are hoping his visit to the state, where U.S. Steel is headquartered, will cap a tumultuous 18-month effort by Nippon Steel to acquire the American company, which has faced numerous setbacks, including union opposition and two national security reviews.

However, the final outcome remains uncertain. After initially appearing to endorse the transaction in a Truth Social post last Friday, Trump walked back expectations during comments to reporters on Sunday, characterizing the arrangement as an “investment” that would leave control with the U.S.

“This will be a planned partnership between United States Steel and Nippon Steel, which will create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy,” Trump wrote in his post. “I will see you all at U.S. Steel, in Pittsburgh, on Friday, May 30th, for a BIG Rally. CONGRATULATIONS TO ALL!”

White House trade adviser Peter Navarro echoed the sentiment on Thursday, saying, “U.S. Steel owns the company. Nippon Steel is going to have some involvement but no control.”

The President has until next Thursday to issue a formal decision following last week’s conclusion of a second national security review by the Committee on Foreign Investment in the U.S.

Nippon Steel has reportedly offered to invest $14 billion in U.S. operations, including $4 billion for a new mill, if the Trump administration approves the merger.

U.S. Steel’s stock has gained 57% this year and 44% over the past 12 months. 

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