Trump Reiterates Opposition to Nippon Steel's Acquisition of U.S. Steel

Forex - In a statement, U.S. President-elect Donald Trump asserted that a series of tax incentives and tariffs would revive the famous American company U.S. Steel, while reiterating his opposition to Nippon Steel's plan to acquire the company for $15 billion.
Trump wrote on the social media platform Truth Social, “I am completely opposed to the acquisition of the once-great and powerful company U.S. Steel by a foreign company, in this case, Japan's Nippon Steel.”
Trump added, “I will prevent this deal from happening. Buyer Beware!!!”
Nippon Steel hopes to finalize the deal before Trump reclaims the White House on January 20, despite opposition from President Joe Biden and U.S. labor unions.
According to sources, Japanese Prime Minister Shigeru Ishiba wrote to Biden last week, asking him to approve the transaction, which has been referred to a government panel reviewing foreign investments for national security risks.
The deadline for review by the Committee on Foreign Investment in the United States (CFIUS) is next month. CFIUS could potentially approve the deal with measures to address national security concerns or advise the President to block the agreement. It could also extend the review period.