Trump doesn't want U.S. Steel to become Japan's asset
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Update time : 2025-04-14 16:00:51
On April 7, US President Donald Trump ordered a national security review of former President Joe Biden's decision that block Nippon Steel's acquisition of U.S. Steel.
Following this announcement, U.S. Steel's stock soared in recent days to its highest level in a year; however, it fell as much as 16% in after-hours trading on April 10. This was because Trump stated on different occasions that he does not want an iconic company like U.S. Steel, which has a history of more than 100 years in the country and was the world's number one company for a long time, to become Japan's asset.
The Committee on Foreign Investment in the United States (CFIUS) has 45 days to finalize this case.
