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

U.S. President-elect Donald Trump has pledged to block Japanese company Nippon Steel’s planned purchase 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,” said Trump

“As President, I will block this deal from happening,” he said, adding that he will make U.S. Steel “Strong and Great Again” through the use of tax incentives and tariffs. 

Former President Donald Trump has reiterated his pledge to block Japanese steelmaker Nippon Steel’s attempt to purchase U.S. Steel. Trump expressed strong opposition to foreign control of American industries, promising to safeguard U.S. Steel using tariffs and tax incentives to strengthen the company. The deal has faced resistance from unions and President Biden, and it is currently under review by the U.S. Committee on Foreign Investment. While both companies have defended the acquisition, Trump’s comments emphasize his commitment to keeping U.S. businesses under American ownership.