Trump Says He Would Block US Steel Acquisition by Nippon Steel

December 11, 2024

President-elect Trump vowed to block Japanese Nippon Steel Corp.’s acquisition of U.S. Steel. “I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump wrote in a post Monday on Truth Social. He made the same promise on the campaign trail earlier this year. The Hill has contacted Nippon for comment.

The Japanese firm announced last year that it would acquire U.S. Steel Corp. in a $14.9 billion deal — a move that was sharply criticized by lawmakers on both sides of the aisle. Nippon asked in September to refile its acquisition bid, a move that put off a decision on approving the deal until after the presidential election.

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