Trump repeats vow to 'block' Nippon Steel's bid for U.S. Steel

President-elect Donald Trump has pledged to block Japanese company Nippon Steel’s planned purchase of U.S. Steel, stating his opposition on social media and promising to use tax incentives and tariffs to make U.S. Steel “Strong and Great Again.” The deal, which would bring together the fourth largest global steelmaker and the leading steel producer in Japan, has faced opposition from United Steelworkers, President Joe Biden, and the U.S. Committee on Foreign Investment, which is reviewing the transaction for potential national security risks. Nippon Steel and U.S. Steel have yet to respond to Trump’s latest remarks, with both companies previously touting the acquisition as a way to revitalize the American Rust Belt and enhance U.S. national security.

Full Article