Trump's Steel Showdown: National Security vs. Economic Alliances

U.S. President Donald Trump is set to meet with CEOs from U.S. Steel and FedEx after the controversial blocking of Nippon Steel's acquisition bid by former President Joe Biden. The deal was halted over national security concerns, sparking a debate over foreign investments in American industrial assets.

U.S. President Donald Trump is poised to convene with the chief executives of U.S. Steel and FedEx this Thursday, marking a pivotal meeting after the contentious intervention by former President Joe Biden, who blocked Nippon Steel's attempt to purchase U.S. Steel last month citing national security grounds.

David Burritt, CEO of U.S. Steel, has reached out to Trump in hopes of overturning Biden's decision. Trump has been a staunch critic of the Japanese company's bid to acquire the historically significant American steel giant.

In a statement made in December, Trump expressed his disapproval of the acquisition, emphasizing that U.S. Steel should not fall under foreign control, particularly by Nippon Steel. Nevertheless, on Thursday, Nippon Steel argued that their acquisition aligns with Trump's vision of fortifying the United States, as Japanese and American leaders plan to meet soon.

(With inputs from agencies.)