US Steel Falls 16% After Trump Says He Doesn’t Want Japanese Owner
The United States Steel Corp. Clairton Coke Works facility in Clairton, Pennsylvania.
Photographer: Justin Merriman/BloombergThis article is for subscribers only.
United States Steel Corp. shares tumbled as much as 16% in post-market trading after President Donald Trump said he does not want to see the steelmaker owned by a Japanese company.
Trump, speaking from the Oval Office, pointed to the producer’s rising steel orders as evidence that it doesn’t need any investment right now. He also said he doesn’t want US Steel bought by “any other place,” apparently referring to other foreign buyers.