Trump: "It is hard to accept Nippon Steel's acquisition of US Steel"

"US Steel, a Cherished American Brand... Deal Rejected"

U.S. President Donald Trump expressed a negative stance on Nippon Steel's acquisition of US Steel.

Reuters Yonhap News

On the 10th (local time), during a cabinet meeting held at the White House, President Trump said, "US Steel is one of the greatest brands in American history," adding, "We love Japan, but I find it hard to accept a foreign country buying the US Steel brand that we cherish."

President Trump directed his remarks at Nippon Steel, saying, "Why can't they just build a factory themselves instead of acquiring US Steel?" He continued, "So I rejected the deal. Now I feel better that they have returned as investors." He further emphasized, "US Steel will do very well because of tariffs," and reiterated, "I don't understand why they need the deal."

The day before, President Trump also expressed a negative view, stating, "US Steel is a special company," and "We do not want it to go to Japan or any other country."

Previously, the former Joe Biden administration blocked Nippon Steel's acquisition of US Steel citing security concerns. President Trump also opposed Nippon Steel's acquisition of US Steel and instructed a security-related panel to review the issue. Bloomberg News interpreted this as President Trump leaving room to revise former President Biden's decision to block Nippon Steel's acquisition of US Steel at that time.