Trump Vows to Block Nippon Steel's $15 Billion Acquisition of U.S. Steel

The president-elect reiterates opposition to the deal, citing national security concerns and promising tariffs and tax incentives to bolster the American steel industry.

Donald Trump has pledged to block Nippon Steel's acquisition of U.S. Steel, emphasizing the need to keep the company under domestic ownership for national security reasons.
The $15 billion deal, announced in December 2023, is under review by the Committee on Foreign Investment in the United States (CFIUS), with a decision expected this month.
Nippon Steel has committed to investing at least $2.7 billion in U.S. Steel's facilities, maintaining union jobs, and preserving the company’s headquarters in Pittsburgh.
President Joe Biden and the United Steelworkers union have also expressed opposition to the deal, though some steelworkers and local leaders support it for its potential economic benefits.
If finalized before Trump’s January 20 inauguration, experts suggest reversing the deal would be unprecedented and legally challenging.