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2w ago

Trump Opposes Nippon Steel’s $14.9B Bid for U.S. Steel Despite Launching New Security Review

President Trump’s comments cast doubt on the merger as lawsuits and a fresh CFIUS review keep the deal in limbo, rattling markets and investors.

Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024. REUTERS/Issei Kato/File Photo
A United Steelworkers sign is seen outside the Great Lakes Works United States Steel plant in River Rouge, Michigan U.S., September 16, 2024. REUTERS/Rebecca Cook/File Photo
The logo of Nippon Steel Corporation is displayed at the company headquarters in Tokyo, Japan in this photo taken by Kyodo May 1, 2019. Mandatory credit Kyodo/via REUTERS/File Photo
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Overview

  • President Donald Trump publicly stated his opposition to Nippon Steel’s acquisition of U.S. Steel, emphasizing that he wants the company to remain domestically owned.
  • Despite his comments, the Trump Administration has ordered a new national security review of the $14.9 billion merger, which had been blocked by the Biden Administration in January 2025.
  • The Biden Administration’s earlier decision to block the deal cited national security concerns, while Nippon Steel and U.S. Steel argue the merger would modernize operations and save over 14,000 U.S. jobs.
  • U.S. Steel and Nippon Steel have filed lawsuits against the U.S. government, alleging wrongful interference and bias in the initial review process.
  • Following Trump's remarks, U.S. Steel’s stock price dropped over 11% in after-hours trading, reflecting heightened investor uncertainty over the deal’s future.