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Trump changes stance on Japan Railway and U.S. Steel deal

Internet reports that US President Trump said on the 23rd that US Steel and Japan Steel will reach a "planned partnership", Japan Steel will invest in US Steel, and US Steel will continue to "stay in the United States." Trump posted on the social media platform "Real Social" that day that American Steel's headquarters would remain in Pittsburgh, Pennsylvania. "This will be a planned partnership between U.S. Steel and Japan Steel that will create at least 70,000 jobs and add $14 billion to the U.S. economy. Most of the investment will be completed in the next 14 months." The British "Financial Times" reported that last week, Japan Railway agreed to triple its investment in U.S. Steel as a last-ditch effort to get Trump to change his stance. Japan Steel later issued a statement saying that Trump's decision will be a major turning point for the U.S. steel industry and even the entire U.S. manufacturing industry. (Xinhua Agency)

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