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Donald Trump said he is against Nippon Steel of Japan buying US Steel.
Trump said, “I will block this deal from happening. Buyer Beware!!!”
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. 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!!!
Nippon Steel is trying to get the deal done before Trump takes office.
Nippon Steel seeks to close the deal before Trump is sworn in as president again on January 20, although President Biden and a powerful U.S. labor union also oppose the takeover. Nippon Steel is confident the deal can be finished by the end of the year.
The president has said it was “vital” for U.S. Steel “to remain an American steel company that is domestically owned and operated.”
Biden has referred the deal to the Committee on Foreign Investment in the United States (CFIUS), a government panel that reviews foreign investments for national security risks.
The deadline for the panel’s review is next month. CFIUS could approve the deal, including with measures to address national security concerns, or suggest that the president block the transaction.