Trump opposes Japanese ownership of U.S. Steel

In the United States, former President Donald Trump publicly stated his opposition to the acquisition of U.S. Steel Corporation by Japan's Nippon Steel during remarks made on April 9, 2025. This commentary emerged shortly after Trump had directed a national security panel to reassess the $14 billion bid. Despite signals of possible approvals, his statements led to a significant drop in U.S. Steel's share value, which fell by 13% after market hours. Trump’s resistance reflects a broader apprehension regarding foreign ownership of critical American companies, a stance he reiterated during his statements at the White House. This merger has been a point of contention since its announcement in late 2023. Outgoing President Joe Biden had previously blocked the deal on national security grounds in January 2025, prompting Nippon Steel and U.S. Steel to file a lawsuit against the Committee on Foreign Investment in the United States (CFIUS). They claimed that Biden's opposition was politically motivated, aiming to win the support of the United Steelworkers union prior to the election. Bipartisan concern has continued to mount about the merger, with both key political figures expressing their commitment to preventing a foreign takeover of an iconic American steelmaker. Local leaders in Pennsylvania’s Mon Valley, where U.S. Steel has operations, are hopeful that Nippon Steel could bring much-needed investment and job stability to the area. These officials have urged Trump to take their concerns into account. Mayor Cletus Lee has stated that community leaders want to see the plant revitalized and have articulated their optimism surrounding the merger's potential benefits despite Trump's disapproval. Critics of the merger argue that U.S. Steel's future could be jeopardized if it gets acquired by a foreign entity, contrary to the sentiments expressed by local officials who see the deal as an opportunity for economic growth. Ultimately, the fate of this merger remains uncertain as both the Trump administration’s position and local sentiments clash. While some argue for the benefits that foreign investments could bring, Trump's administration has shown a tendency to prioritize national security over foreign acquisitions. As the debate continues, the implications for American manufacturing, job markets, and international business relations hang in the balance.