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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A coalition of democracy and human rights groups has filed a lawsuit against the US State Department over its agreement with El Salvador to house migrants in the country's prison system, calling it unconstitutional and illegal.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Driverless lorries are already rolling on highways between Beijing and Tianjin port, showing how China’s transport industry could change soon.
Kenya has directed its tea factories to suspend ties with the Rainforest Alliance, saying the cost of ethical certification is too high for struggling smallholder farmers.
A coalition of democracy and human rights groups has filed a lawsuit against the US State Department over its agreement with El Salvador to house migrants in the country's prison system, calling it unconstitutional and illegal.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Driverless lorries are already rolling on highways between Beijing and Tianjin port, showing how China’s transport industry could change soon.
Colombia has cut deforestation by a third in early 2025, with the biggest progress seen in Amazon national parks.
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