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.
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Operation in Iran’s Shahid Rajaei Port in the southern city of Bandar Abbas is back to normal after firefighters put off the deadly fire which broke out on Saturday, customs authorities said.
Germany’s Social Democratic Party (SPD) has approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), securing the final step needed to form a new government under Chancellor-designate Friedrich Merz.
Political directors from France, Britain, and Germany are scheduled to meet with Iranian officials in Rome on Friday, according to two diplomatic sources who confirmed the meeting to Reuters.
Georgian President Mikheil Kavelashvili expressed hope that Armenia and Azerbaijan will sign a peace agreement in the near future, contributing to the positive development dynamics of the South Caucasus region.
Meta, the parent company of Facebook, unveiled a free standalone artificial intelligence (AI) app for its Meta AI assistant on Tuesday, marking a significant move as part of the growing wave of new AI apps in the tech industry.
You can download the AnewZ application from Play Store and the App Store.
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