Trump Remains Opposed to US Steel Sale, Pledges Tariff Fix
- Trump continues to say he’d block a takeover by Nippon Steel
- Decision is currently on pace to be Biden’s, not Trump’s
The political stakes are high, in part because US Steel is based in Pennsylvania, a crucial battleground that Biden won in 2020 and Trump took in last month’s election.
Photographer: Justin Merriman/BloombergThis article is for subscribers only.
Donald Trump reiterated his opposition to the sale of United States Steel Corp. to Nippon Steel Corp., saying he’d instead use tariffs and tax incentives to revive the American steelmaker.
Trump made the comment in a Truth Social post on Monday night, with the decision on whether it goes forward slated to land on Biden’s desk before Trump’s inauguration. The president opposes it and has said US Steel would remain domestically owned, “guaranteed.” He has stopped short, however, of flatly pledging to kill the $14.1 billion takeover.