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International Business Times
International Business Times
Business
AFP News

Trump Says Will 'Block' Nippon Steel From Taking Over US Steel

Embattled US Steel has argued that it needs the Nippon deal to ensure sufficient investment in its Mon Valley plants in Pennsylvania (Credit: AFP)

US President-elect Donald Trump on Monday said he would "block" a planned takeover of US Steel by Japanese company Nippon Steel, a deal worth $14.9 billion including debts.

"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 Truth Social platform.

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