President Donald Trump will speak at a rally in Pennsylvania to push a proposed partnership between U.S. Steel and Japan-based Nippon Steel. This new plan reverses Trump’s earlier vow to block foreign ownership of the historic steelmaker. Trump now says the deal will keep U.S. Steel under American control while inviting massive investment from Nippon. Officials briefed on the plan say Nippon will spend billions upgrading steel facilities across Pennsylvania and other key states.

Trump’s Rally Boosts American Manufacturing amid Steel Deal Shift

Under the proposed agreement Nippon will gain partial ownership but the U.S. will retain control through a “golden share.” This will give American leaders veto power and board representation. Trump emphasized that U.S. Steel will remain headquartered in Pittsburgh. The plan reportedly includes a $14 billion investment alongside the original $14.9 billion bid to build new infrastructure like an electric arc furnace steel mill.

“The deal has gotten better. The prospects for the future of steelmaking have gotten better,” said Pennsylvania Gov. Josh Shapiro.

Local leaders like West Mifflin Mayor Chris Kelly have praised the deal for potentially saving jobs. National lawmakers including Rep Dan Meuser and Sen David McCormick also expressed support saying the deal protects U.S. interests. But the United Steelworkers union still questions whether the new terms are any different from the original rejected offer. Critics say they haven’t seen evidence of a real shift in ownership structure. Trump continues to campaign on revitalizing manufacturing as a key part of his second-term agenda.