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.
Nippon Steel shares fluctuated after the news, before closing little changed in Tokyo. Meanwhile, shares of US Steel fell as much as 8.6% in US premarket trading. “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,” he wrote. “Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!”
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