Trump is considering allowing Nippon Steel to acquire US Steel – report
globalreutersFebruary 7, 20251 Mins read Joe Biden rejecting the Nippon Steel bid for US Steel based on ‘national security’ concerns marks one of the low points of his Presidency.
It was a non-sensical decision at the same time as the administration was paying foreign companies to build and own chip fabs in the USA.
Trump also spoke out against it, saying he would block it repeatedly.
“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 in December.
Naturally, Trump is now in deal-making mode and it appears to be on the table.
CBS reports that he’s considering allowing the sale, citing multiple sources.
“Approval of the transaction isn’t definite, and Mr. Trump has not made a final decision,” the report says.
Trump is meeting with Japanese PM Ishida today and US Steel was undoubtedly on the agenda.
Shares of US Steel rose 2% today but are still trading well below the $55 deal price.
This article was written by Adam Button at www.forexlive.com.
Recent Posts
Categories
Related Articles
Forexlive Americas FX news wrap 7 Feb: US jobs remains solid.Inflation expectations rise
Major US stock indices close sharply lower.US consumer credit for December $40.85B...
Major US stock indices close sharply lower.
The major US stock indices are closing sharply lower for the day....
For the trading week, the USD is ending mostly lower.
The USD moved sharply higher at the start of the week on...
US consumer credit for December $40.85B vs $12.35B estimate
Prior month -$7.49 B revised to -$5.37%US consumer credit for December came...
Leave a comment