Trump reaffirms his opposition to sale of US Steel to Japan's Nippon Steel
Joe Biden blocked nearly $14B deal between 2 companies in January
ANKARA
US President Donald Trump has reaffirmed his opposition to the sale of US Steel to Japan's Nippon Steel, the Japanese media reported Thursday.
Speaking to reporters in Washington on Wednesday, Trump described the US Steel as a "very special company" that used to be the world's No. 1 steelmaker for a long time, Tokyo-based Kyodo News reported, as he touted his tariff plans as an effective means to revive his country's steel and other legacy industries.
"That's why we don't want to see it go to Japan," Trump said, although, he added, he loves the Asian country.
Contending that he saved the US steel industry during his first presidency by using tariffs in response to China's "massive" dumping, Trump said: "It's going to thrive, maybe like never before."
His remarks came two days after he ordered a panel of federal agencies to conduct another review of the Japanese steelmaker's blocked $14.1 billion bid to take over US Steel.
Former US President Joe Biden blocked a more than $14 billion deal between the two companies in January, citing security concerns.
Nippon Steel and US Steel filed a lawsuit after Biden's decision.
Trump has said that Nippon Steel acquiring a minority stake in US Steel would not cause any issues, but a foreign company owning it would be "psychologically not good."
*Writing by Aamir Latif
