Nippon Steel finalizes deal to buy US Steel

CLEVELAND, Ohio (WOIO) - Nippon Steel announced Wednesday it has finalized the deal to buy U.S. Steel.

The purchase of 100% of the company comes despite President Donald Trump saying he would only allow the deal to go forward if it was an “investment,” and not an outright purchase.

Under the final deal, the president can veto any decision to idle plants, reduce production or staffing levels.

The deal was previously blocked by President Joe Biden in his final weeks in office, saying it was for national security reasons.