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First major policy by Trump to support U.S. steel industry by June 30, 2025?
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Tax incentives • 25%
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Official announcements from the Trump administration or relevant U.S. government departments
Story
Trump Vows to Block Nippon Steel's $14.1 Billion Acquisition of U.S. Steel
Dec 3, 2024, 03:09 AM
President-elect Donald Trump has announced his opposition to Nippon Steel's proposed acquisition of U.S. Steel, pledging to block the $14.1 billion deal upon taking office. Trump stated he will utilize tax incentives and tariffs to revive the American steel industry, making U.S. Steel 'strong and great again.' The transaction has been under review by the Committee on Foreign Investment in the United States (CFIUS) and was also opposed by the Biden administration due to national security concerns. Notably, Nippon Steel, Japan's largest steelmaker, had hired former Secretary of State Mike Pompeo earlier this year to assist in securing the deal.
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