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.
