Trump Pledges to Block Nippon Steel Purchase of U.S. Steel

Donald Trump, the Republican presidential candidate, has reiterated his commitment to blocking Nippon Steel's proposed acquisition of U.S. Steel during a speech in York, Pennsylvania. He emphasized that, if elected, he would prevent Japan from purchasing the company, a stance he first announced in February. Following his remarks, shares of U.S. Steel dropped by 3.5%, reflecting market concerns. Trump also criticized the Biden administration's recent pollution regulations from the EPA, which aim to reduce greenhouse gas emissions significantly, labeling them as part of an 'anti-American energy crusade.' He pledged to open more power plants and promote various energy sources, including nuclear, while also vowing to revoke China's trade privileges and boost domestic production capacity using the Defense Production Act. President Biden has previously stated the importance of U.S. Steel remaining domestically owned and operated.