U.S. President Donald Trump reaffirmed his opposition to the sale of U.S. Steel to Japan's Nippon Steel, reiterating his concerns over the deal during a recent press briefing.
Speaking to reporters on Wednesday, Trump described U.S. Steel as a "very special company" that had long been the world’s top steelmaker. He emphasized his belief that U.S. steel and other legacy industries could thrive again, thanks in part to his tariff policies.
"That's why we don't want to see it go to Japan," Trump said, while noting his positive regard for the Asian country. Trump's comments came two days after he ordered federal agencies to review the blocked $14.1 billion acquisition bid by Nippon Steel, which was initially blocked by former President Joe Biden in January due to national security concerns.
Biden's administration had rejected the deal, citing the potential security risks of allowing a foreign company to control a significant part of U.S. industry. In response, Nippon Steel and U.S. Steel filed a lawsuit challenging the decision.
While Trump stated that he did not oppose Nippon Steel acquiring a minority stake in U.S. Steel, he made it clear that foreign ownership of the entire company would be "psychologically not good." Trump has previously pointed to his use of tariffs during his first presidency as a key factor in reviving the U.S. steel industry, particularly in response to China's "massive" steel dumping.
Trump’s stance adds further complexity to the ongoing legal and political battle over the deal, reflecting continued debates over foreign ownership in critical U.S. industries.
U.S. President Donald Trump's threats to make the Strait of Hormuz part of U.S. territory have been mocked by Iran's Deputy Foreign Ministe...
Five years ago today, Taliban fighters entered Kabul, completing a rapid takeover of Afghanistan as the former government collapsed....
For fishermen along Pakistan’s southwestern coast, the consequences of the U.S.-Iran conflict are being felt far from the battlefield....
Hundreds of flights have been cancelled or rerouted at Catania Airport over the past week as ash from Mount Etna’s ongoing eruption continues to disrupt air travel in Sicily.
Wildfires across England and Wales have reached their highest level on record, according to the National Fire Chiefs Council, as firefighters struggle to contain outbreaks following a spell of extreme heat.
The U.S. will impose unprecedented measures on Iran in order to economically isolate the country, U.S. Treasury Secretary Scott Bessent has said.
U.S. President Donald Trump's threats to make the Strait of Hormuz part of U.S. territory have been mocked by Iran's Deputy Foreign Minister, Kazem Gharibabadi, who said the sea passage "cannot be seized by tweet."
At least 47 people have been killed after a magnitude 7.7 earthquake struck off eastern Indonesia early on Saturday, triggering small tsunami waves and dozens of aftershocks, officials say.
Russian President Vladimir Putin has praised deepening ties with North Korea, saying Moscow and Pyongyang are coordinating their efforts to ensure “regional security and stability”.
Russia and Ukraine traded large-scale overnight attacks targeting energy, industrial and military facilities on Saturday, with a three-month-old baby killed and 11 people injured in a Russian drone strike on a residential building in Ukraine’s Dnipropetrovsk region.
At least 47 people have been killed after a magnitude 7.7 earthquake struck off eastern Indonesia early on Saturday, triggering small tsunami waves and dozens of aftershocks, officials say.
Jason Arday, the former University of Cambridge professor at the centre of a plagiarism row, has been found dead. He was appointed Cambridge's youngest ever Black professor in 2023, but quit on 5 August, after being accused of lifting passages from his PhD from the work of other academics.
Wildfires across England and Wales have reached their highest level on record, according to the National Fire Chiefs Council, as firefighters struggle to contain outbreaks following a spell of extreme heat.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment