Trump plans to block Nippon Steel-US Steel deal to protect American steel industry

From Investing.com: 2024-12-02 22:01:46

President-elect Donald Trump vows to block Japan’s Nippon Steel Corp’s $15 billion takeover of U.S. Steel, citing plans for tax incentives and tariffs to support the American steelmaker. Trump criticizes the deal as harmful to U.S. workers and promises to introduce measures to strengthen the industry during his second administration. The deal is currently under review by the Committee on Foreign Investment in the United States, with a decision expected in December. Nippon Steel is reportedly trying to fast-track the deal before Trump’s inauguration on January 20, sparking concerns over potential national security risks and compromises in the U.S. steel industry.



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