President-elect Donald Trump has repeatedly said he intends to block a Japanese firm’s $15 billion takeover bid of US Steel upon taking office, saying the former American giant can eventually stand on its own.
President-elect Donald Trump has again indicated that he intends to block a Japanese firm’s $15 billion takeover bid of US Steel upon taking office, saying the former American giant can eventually stand on its own. “Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again,” he said on his Truth Social platform on Monday. “As President, I will block this deal from happening.
In September, Nippon Steel was expected to re-file its application for a national security review by American regulators, buying Japan’s largest steelmaker another 90 days to close its acquisition of a US rival after political opposition emerged in an election year. The surprise development allowed the steelmakers to reset the clock, potentially keeping the controversial deal alive.
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