Trump says he will block Japanese firm from buying US Steel
ANKARA (AA) – President-elect Donald Trump has reiterated his vow to block a deal for Japan’s Nippon Steel to acquire US Steel.
“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” he wrote on Truth Social, his social media platform, late Monday. “Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening.”
“Buyer Beware!!!” he added.
His statement came as Nippon Steel hopes to complete its planned purchase of the US producer by the end of this year, according to Kyodo News.
Trump is due to officially return to the White House on Jan. 20.
On the campaign trail, Trump had pledged that if elected he would block the over $14 billion deal.
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