CEO David Burritt says U.S. Steel “absolutely” still an American company after Nippon Steel acquisition

U.S. Steel’s acquisition last year by Japan’s Nippon Steel came with a notable condition to win approval from the Trump administration: a so-called “golden share” that gives President Trump the power to approve certain major corporate decisions, including closing plants or changing locations. But CEO David Burritt tells CBS News, “There’s nothing in this golden share that prevents us from doing what we want to do.” 

“We’re aligned with what the president wants us to do. In fact, we wouldn’t agree to this thing if we weren’t sure it was going to be great for our workers and great for our company,” Burritt told “CBS Evening News” anchor Tony Dokoupil at one of the company’s plants in Pittsburgh.

Burritt downplayed some of the provisions in the deal, saying there were certain aspects that would need approval, such as changing the company’s name or being forced to follow existing trade laws, that don’t have any impact on what U.S. Steel’s plans were to begin with. 

But asked if the company would require Mr. Trump’s approval for business decisions down the line, such as closing a plant, Burritt insisted, “We don’t see us closing the plant. In fact, we just did have an opening here because of demand increasing at Granite City [Illinois].” 

Burritt said, despite Mr. Trump’s own claims last year, that the president did not veto the company’s decision to close down the Granite City operation, which had been dormant since 2023. He said the company recently restarted a blast furnace at the location due to increased customer demand.

Burritt acknowledged that in the future, “If we had to make a difficult business decision, we would have to get approval to close a plant.”

“But we don’t see a reason to do that,” he added.

“We can’t guarantee things are going to stay open,” Burritt said. “We are going to manage the business and we’re going to keep a great relationship with this administration, who did so much for us and the United States, to help get this deal done.”

Burritt touted the acquisition, saying, “Without the partnership, we would not be able to invest as much money as what we are now. … This is really a wonderful thing for the workers, and the workers are the ones who made this happen.”

He also highlighted the $14 billion investment from the deal that, he says, the company will be spending in the coming years, supporting as many as “100,000 direct or indirect jobs.”

Burritt said, despite the acquisition, U.S. Steel is “absolutely” still a U.S. company.

“U.S. Steel Corporation: That’s our brand. That’s our name. Headquartered right here in Pittsburgh, and we’re gonna keep it there and continue to build here,” he said.

“We have a fiduciary duty to national security. And we have a fiduciary duty to Nippon. We keep them aligned and it’s a beautiful thing,” he said, adding: “We’re still mined, melted and made in the good ol’ USA.”

Burritt called Mr. Trump’s tariffs a “game changer,” saying, “We really appreciate that the tariffs are in place. This strengthens national security, economic security and also makes sure we have job security and creates jobs.”