Trump Suggests Steel Will Get More Protection in Comment on US Steel Sale
President-elect Donald Trump posted on Truth Social that he will block the purchase of U.S. Steel by Nippon Steel, though it's possible President Joe Biden will take care of that before Trump is inaugurated.
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However, he also wrote: "Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST!"
The United Steelworkers issued a statement welcoming Trump's declaration. “This transaction has been under review for more than 10 months. More time won’t change the fact that it’s bad for USW members across the states where U.S. Steel operates, nor will it alter the dire national and economic security risks the deal poses to our country. It’s time for this deal to be rejected so we can all focus on the future.”
The union said it agreed with Trump "that with proper attention, U.S. Steel will flourish well into the future as a domestically owned and operated company."