Trump, Post-Election, Vows to Block U.S. Steel Sale to Japan's Nippon Steel

Dec 3, 2024, 02:42 AM

Former President Donald Trump, who has won the 2024 U.S. Presidential Election, has announced his intention to block the proposed acquisition of U.S. Steel by Nippon Steel of Japan. Trump stated his opposition to the deal on Truth Social, emphasizing his commitment to prevent the sale of the iconic American company to foreign ownership. He plans to use a series of tariffs and tax incentives to strengthen U.S. Steel and revive the industry upon taking office. The deal is currently under review by the Committee on Foreign Investment in the United States (CFIUS) and has already faced opposition from the Biden administration.