President-elect Trump said Monday he would use a series of tax incentives and tariffs to block Nippon Steel's planned $14 billion purchase of American manufacturing company U.S. Steel. "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," Trump wrote on his social media platform Truth Social. "Through a series of Tax Incentives and Tariffs, we will make U.S.
could approve the deal, including with measures to address national security concerns, or suggest that the president block the transaction. WHY IT MAY NOT BE EASY TO RESTART THE KEYSTONE XL PIPELINE GET FOX BUSINESS ON THE GO BY CLICKING HERE The panel, helmed by Treasury Secretary Janet Yellen, could also extend the review. Last week, Japanese Prime Minister Shigeru Ishiba called on Biden to approve the purchase, according to Reuters. Reuters contributed to this report.