President-elect Donald Trump said Monday that he would block the sale of U.S. Steel to Japanese manufacturing giant Nippon Steel.
Trump frequently spoke about his opposition to the sale while campaigning, saying he would prevent the deal from happening through tax incentives and tariffs. Nippon has proposed acquiring the American company for $15 billion.
“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,” Trump posted on Truth Social. “Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!”
Shortly after the sale of U.S. Steel was announced in December 2023, Trump said he would block the deal if elected president again.
“I would block it instantaneously….
