President-elect Trump vows to block sale of US steel company to Japanese owner

President-elect Donald Trump has vowed to block the acquisition of US Steel by Japanese steel company Nippon Steel. Trump voiced his displeasure with the prospective purchase by taking to Truth Social.

The president-elect posted, "I am totally against the once great and powerful US Steel being bought by a foreign company, in this case Nippon Steel of Japan. Through a series of Tax Incentives and Tariffs, we will make US Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!"


The post from Trump reiterates his position on wanting to keep jobs as well as manufacturing here in the United States, a campaign message that has had a part to do with him picking up votes in blue-collar working communities. According to the New York Times, it is the first time that Trump has publicly commented on the situation.

The president-elect has put forth economic policy proposals to put America first ahead of his second White House term, such as the threat of using a 25 percent tariff on goods from Mexico, China as well as Canada in order to get the countries to control their borders and the flow of fentanyl.

After Trump made the comment, Nippon Steel responded saying that the company is "determined to protect and grow US Steel in a manner that reinforces American industry, domestic supply chain resiliency and US national security."

The US Steelworkers Union, for its part, said of the proposed deal, “The proposed sale is bad for workers, our communities and the domestic industry — as well as our national security, critical infrastructure and domestic supply chains." Other critics of the deal have said that it should also be blocked on the grounds of national security as the steel industry in the US would be controlled in large part by a foreign nation.