Steel Struggle: The Battle Over US Steel's Future

President-elect Donald Trump plans to block the purchase of US Steel by Japan's Nippon Steel Corp, citing national security concerns. Both he and President Joe Biden oppose the deal. Despite the proposed $14.9 billion acquisition, which promises investments and commitments, the merger remains controversial.

President-elect Donald Trump is reinforcing his pledge to prevent Nippon Steel Corp from acquiring US Steel, emphasizing the need for tax incentives and tariffs to bolster the American steel industry.

Despite bipartisan opposition, including from President Joe Biden, Trump remains firm, aligning with the United Steelworkers union in blocking the deal.

Arguments against the acquisition cite economic and national security concerns, while proponents highlight Nippon Steel's investment potential and commitments to safeguard US jobs and industry standards.

(With inputs from agencies.)