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President-elect Donald Trump has once again expressed his firm opposition to the proposed $14.9 billion acquisition of U.S. Steel by Japan's Nippon Steel, a deal that has stirred controversy among lawmakers, unions, and industry leaders. On Monday, Trump took to Truth Social, effectively closing the door on any hopes for the transaction's approval, pledging to block it once he assumes office.

"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. "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!!!"

Trump's declaration marks a decisive moment in the battle over U.S. Steel's future and the direction of the American steel industry. His stance echoes earlier promises made during his campaign, reinforcing his commitment to protecting American manufacturing from foreign control.

Union and Lawmakers Rally Behind Trump's Opposition

The announcement has garnered support from a key ally: the United Steelworkers union. In a statement issued on Tuesday, the union hailed Trump’s opposition, emphasizing the crucial role of a robust domestic steel industry for national security and job preservation.

"It's clear that President Trump understands the vital role a strong domestic steel industry plays in our national security, as well as the importance of the jobs and communities the industry supports," the union’s statement read. "It's time for this deal to be rejected so we can all focus on the future."

Trump’s objections align with those voiced by several lawmakers, both Republican and Democrat, who fear that Nippon’s acquisition could jeopardize U.S. trade interests and lead to job losses across the nation. However, Trump is not alone in his opposition. Both President Joe Biden and Vice President Kamala Harris have also spoken out against the deal, citing national security concerns.

Debate on National Security and Economic Impact Heats Up

The deal has sparked fierce debate, particularly over its potential impact on national security. Supporters of the acquisition, including former Vice President Mike Pence, argue that concerns about foreign ownership are exaggerated. Pence has pointed out that while China and Russia are major steel producers, U.S. steel production is lagging behind, and the Nippon deal could help close this gap.

"There are some who make the bogus argument that this deal could threaten our national security," Pence remarked at an October event. "But that argument ignores a much larger, more dangerous reality. China now produces more than half of the world's steel. Russia is also producing at levels that rival the United States. Meanwhile, we're falling behind."