Trump's Steel Stand: Blocking a Billion-Dollar Buyout

Donald Trump opposes Nippon Steel's plan to buy U.S. Steel for $15 billion, vowing to block the foreign acquisition. While Japan's Prime Minister seeks U.S. approval, the decision rests with the Committee on Foreign Investment in the United States. The outcome could involve national security considerations.

U.S. President-elect Donald Trump has voiced his strong opposition to the proposed $15 billion acquisition of U.S. Steel by Japanese giant Nippon Steel. On Monday, Trump announced on Truth Social his intent to prevent the foreign purchase of the iconic American company.

In a direct message to U.S. investors and companies, Trump warned, "Buyer Beware!!!" He emphasized that he is staunchly against U.S. Steel, once a symbol of American industrial power, being controlled by non-American interests.

With the deadline for the Committee on Foreign Investment in the United States (CFIUS) review looming, the transaction's future remains uncertain. The committee is expected to decide soon, potentially imposing measures to mitigate national security risks or possibly recommending the deal's rejection.

(With inputs from agencies.)