Trump Opposes Nippon Steel's U.S. Steel Takeover

Donald Trump opposes Nippon Steel's $15 billion acquisition of U.S. Steel, vowing to block the deal. Nippon Steel plans to invest $2.7 billion in union facilities and aims to finalize the purchase before Trump's potential return to the presidency. CFIUS is reviewing the deal for national security risks.

Donald Trump, the U.S. President-elect, has declared his firm opposition to Nippon Steel's proposed $15 billion acquisition of American industrial giant U.S. Steel. Using his Truth Social platform, Trump emphasized his commitment to blocking this transaction, signaling potential challenges for the Japanese firm.

Nippon Steel, driven to seal the deal before Trump's anticipated inauguration on January 20, has pledged an investment of at least $2.7 billion in U.S. Steel's facilities. This move is seen as a bid to solidify its commitment to preserving union jobs and bolstering American industry.

The acquisition faces scrutiny under the Committee on Foreign Investment in the United States (CFIUS), a panel that assesses foreign investments for potential national security threats. The outcome of this review, whether approval or extension, remains pivotal to the deal's future.

(With inputs from agencies.)