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Trump Vows to Block U.S. Steel-Nippon Steel Sale if Not Finalized, Citing 50% Tariff on China

Oct 15, 2024, 05:04 PM

Former President Donald Trump announced that he would block the proposed acquisition of U.S. Steel by Japan's Nippon Steel if the deal is not finalized before the start of his potential new term. Trump expressed his concerns about the sale, citing the risk of losing American steel companies due to competitive pressures from China. He highlighted his previous actions, including imposing a 50% tariff on Chinese steel imports, as measures to protect the U.S. steel industry. Trump's remarks come amid ongoing discussions about the merger, which has also faced opposition from current President Joe Biden.