Trump Vows To Block Japanese Firm’s Takeover Of U.S. Steel

President-elect Donald Trump has reiterated his intention to block a Japanese firm’s $15 billion bid to acquire US Steel, claiming the American steel giant can recover and thrive independently.

The United Steelworkers (USW) union, which endorsed Vice President Kamala Harris in the presidential race, has backed Trump’s opposition to the deal. I Photo: United States Steel Corporation Facebook

The comments were reported by Juliana Liu and Yumi Asada for CNN.

“Through a series of tax incentives and tariffs, we will make U.S. Steel strong and great again,” Trump wrote on his Truth Social platform on Monday. “As President, I will block this deal from happening. Buyer Beware!!”

Nippon Steel, the prospective buyer, expressed its commitment to revitalizing US Steel.

“We will invest no less than $2.7 billion into its unionized facilities, introduce our world-class technological innovation, and secure union jobs so that American steelworkers at US Steel can manufacture the most advanced steel products for American customers,” the company said in a statement to CNN.

The United Steelworkers (USW) union, which endorsed Vice President Kamala Harris in the presidential race, has backed Trump’s opposition to the deal.

“The USW welcomes President Trump’s continued opposition to Nippon Steel’s acquisition of US Steel, a deal with serious long-term implications for US economic and national security,” the union stated.

USW President David McCall added, “It’s clear that Trump understands the vital role a strong domestic steel industry plays in our national security, as well as the importance of the jobs and communities the industry supports.”