Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Trump opposes U.S. Steel's foreign acquisition to safeguard national industry.
Political and union leaders also push back on Nippon Steel deal.
The acquisition is set to undergo intense scrutiny in the coming months.
Former President Donald Trump reaffirmed his strong opposition to the sale of U.S. Steel to Japan’s Nippon Steel, reiterating his stance that such a vital national asset must remain under American control. Speaking at a recent campaign event, Trump said, “I do not want to see U.S. Steel end up in foreign hands.” His comments come amid rising bipartisan concerns over the $14.1 billion acquisition deal, which many believe poses risks to national security and American industrial sovereignty.
Trump’s remarks add further fuel to an already heated debate, with union leaders and lawmakers also voicing alarm. The United Steelworkers union previously announced opposition to the acquisition, citing job security concerns and lack of transparency. Trump’s influence could play a key role in the upcoming regulatory review process, potentially shaping public opinion and political outcomes.
With trade tensions intensifying and economic nationalism on the rise ahead of the 2024 U.S. presidential election, the fate of U.S. Steel could become a significant flashpoint.
Also Read : Trump Says He Doesn’t Want U.S. Steel to Go to Japan US Open to Talks with India on Steel and Aluminium Tariffs But Not Through WTO
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