President-elect Donald J. Trump says he will block the sale of U.S. Steel to Japan’s Nippon Steel, a move backed by both Republican and several Democratic Party lawmakers in Congress. Instead, Trump says he wants to impose tariffs to rebuild the United States’ domestic steel industry, making it more competitive in international markets. Vice President Kamala Harris had signaled more openness to allowing the foreign takeover of U.S. Steel should she have won the White House.
“I am totally against the once great and powerful U.S. 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 U.S. Steel Strong and Great Again, and it will happen FAST!” President-elect Trump wrote in a post on Truth Social. He added: “As President, I will block this deal from happening. Buyer Beware!!!”
The sale of U.S. Steel to the Japanese-owned Nippon Steel is a critical issue for many Americans, especially those in the Rust Belt states of Pennsylvania and Ohio. During the 2024 presidential campaign, Trump, speaking with members of the Teamsters Union, promised he would “block it instantaneously.”
“We saved the steel industry. Now, U.S. Steel is being bought by Japan. So terrible,” he said.
On Capitol Hill, the opposition to the sale of U.S. Steel to Nippon Steel has become a bipartisan fight. Both of Pennsylvania’s Senators in the next Congress, John Fetterman (D-PA) and Dave McCormick (R-PA), have voiced their opposition to the takeover. Both will likely be key votes in backing Trump’s tariff and trade plans as well.
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