Acquisition of Pittsburgh-based steel producer by Japanese company has faced opposition from steelworkers and Biden
Donald Trump said on Monday that he intends to block Japan’s Nippon Steel’s $14.9bn bid to acquire US Steel in a move that will fuel further fears about a global trade war when the Republican returns to the White House next month.
“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan” the US president-elect said in a statement on Monday, adding: “Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!”
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