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Donald Trump publicly opposed the sale of U.S. Steel to Japan's Nippon Steel.
The $14.1B deal is under review amid national security and political concerns.
Labor unions and politicians are urging the government to reconsider.
Former U.S. President Donald Trump has publicly stated that he does not want to see U.S. Steel fall under Japanese control, opposing the proposed acquisition by Japan’s Nippon Steel. The comments come amid rising scrutiny over foreign investment in critical industries, especially in light of current geopolitical tensions.
The $14.1 billion deal between U.S. Steel and Nippon Steel, which was announced in late 2023, has faced backlash from lawmakers, labor unions, and now from a prominent political figure. Trump, speaking during a campaign event, said, “I don’t want U.S. Steel to be owned by Japan. We built this industry—it's American.”
The Biden administration is also under pressure to review the acquisition on national security and economic grounds. The Committee on Foreign Investment in the United States (CFIUS) is reportedly examining the deal.
Nippon Steel has pledged to maintain U.S. jobs and enhance domestic operations, but Trump’s comments may influence political and regulatory sentiment around the acquisition.
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