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Trump's Remarks Cast Doubt on Nippon Steel's Bid for U.S. Steel

President Trump questions the need for the $14 billion deal, citing tariffs and national interests, while CFIUS reexamines the blocked merger.

Nippon Steel logo is displayed at the company's headquarters in Tokyo, Japan April 1, 2024. REUTERS/Issei Kato/File Photo
A United Steelworkers sign is seen outside the Great Lakes Works United States Steel plant in River Rouge, Michigan U.S., September 16, 2024. REUTERS/Rebecca Cook/File Photo
The logo of Nippon Steel Corporation is displayed at the company headquarters in Tokyo, Japan in this photo taken by Kyodo May 1, 2019. Mandatory credit Kyodo/via REUTERS/File Photo
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Overview

  • President Donald Trump expressed opposition to Nippon Steel's acquisition of U.S. Steel, stating he prefers the company to remain American-owned.
  • Trump suggested that U.S. Steel no longer requires a deal due to the benefits of his tariff policies, which have increased domestic steel demand.
  • The Trump Administration has initiated a fresh CFIUS review of the $14 billion merger, pausing ongoing litigation until June 5, 2025.
  • U.S. Steel shares dropped sharply following Trump's remarks, reflecting investor uncertainty about the deal's future.
  • U.S. Steel and Nippon Steel remain engaged with the Trump administration, exploring options to secure investment while addressing national security concerns.