12/05/2024

Trump Vows to Block Japanese Steelmaker from Buying U.S. Steel

He also pledged tax incentives and more tariffs

President-elect Donald Trump is underscoring his intention to block the purchase of U.S. Steel by Japanese steelmaker Nippon Steel Corporation; he is also pledging to use tax incentives and tariffs to strengthen the iconic American steelmaker.

Trump had vowed early in the presidential campaign that he would “instantaneously” block the deal, and he reiterated that sentiment in a post on his Truth Social platform on Monday night.

“I am totally against the once great and powerful U.S. Steel being bought by a foreign company” and will use tax incentives and tariffs to make U.S. Steel “strong and great again, and it will happen FAST!” he wrote.*

Please select this link to read the complete article from The Associated Press.

*Grammatical corrections related to capitalization corrected by OSAP.