The Clock’s Ticking on Nippon Steel’s $14 Billion Dream… And Trump’s Holding the Timer

Donald Trump is already putting in those late-night shifts (because why wait for the Oval Office when Truth Social exists?). On Monday, the President-elect fired off a bomb (in all caps of course), vowing to block Nippon Steel’s $14 billion takeover of U.S. Steel. And naturally, he did it with all the subtlety of his famous WWE entrance.

“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, (probably while multitasking with a Diet Coke). His weapon of choice (besides mean tweets)? A combination of tax incentives and tariffs, aimed at keeping the steelmaker as American as apple pie.

Nippon Steel, Japan’s largest steel producer, is hungry for this acquisition, seeing it as a chance to grow their global capacity to 86 million tons annually. They’ve pledged $2.7 billion in investments, technological upgrades, and job security for American steelworkers. Sounds patriotic enough, right? Not to Trump (or even Biden, for that matter).

(Source: The New York Times)

Biden, in his trademark bureaucratic fashion, has already punted the decision to the Committee on Foreign Investment in the United States (CFIUS), aka the government’s national security babysitters. They’ve got until next month to decide if Nippon’s grand plan is a Trojan horse or just a really expensive gift basket. But Trump isn’t about to wait for some committee (or anyone else for that matter).

In a rare alignment of stars, Biden and Trump (who usually can’t agree on the weather) both oppose the deal. Even the United Steelworkers union is side-eyeing Nippon’s promises of Rust Belt revival like they’ve heard this song and dance before. Nippon insists this is about "revitalizing American steel and protecting national security," but Trump’s not buying it (and he’s made a political career out of selling “Buy American”).

To be fair, U.S. Steel could use some love. The company’s stock is down over 15% this year, but Trump thinks his playbook of tariffs and tax breaks can fix it. Nippon Steel isn’t sitting idle. The company is hustling to close the deal before Trump officially takes office on January 20. U.S. Steel’s CEO David Burritt is still confident, calling the acquisition a national security win. But Trump’s fiery post suggests he sees this as a battle for economic sovereignty.

So, where does this steel saga end? Will Nippon steel its way through the opposition, or will Trump bring down the hammer like Thor in a MAGA hat? This one will be fun to watch.

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