U.S. President Trump said Wednesday that he does not want to see United States Steel go to Japan, signaling his opposition to Japanese steelmaker Nippon Steel's plan to fully acquire the U.S. peer.
Trump told White House reporters that U.S. Steel is a special company, throwing cold water on expectations that Nippon Steel's buyout efforts might start to make progress after the president ordered a fresh screening of the deal Monday.
The United Steelworkers labor union and others have expressed opposition to the acquisition plan, and former U.S. President Joe Biden in January ordered the deal to be scrapped, citing national security concerns.
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