Former President of the USA and Republican candidate Trump stated on Tuesday that if he wins the election, he will terminate Japan's Nippon Steel's $14.1 billion acquisition of United States Steel (X.US). United States Steel's stock price dropped by 2%.

Although Japanese steel manufacturers have promised no layoffs or factory closures after a successful acquisition, both the Democratic and Republican parties consider the acquisition a threat to American employment. However, some analysts believe that the acquisition will help revive the USA steel industry.

This acquisition has become a focal point of the presidential election, especially in swing state Pennsylvania, where both United States Steel and the United Steelworkers union opposed to this sale are located. The acquisition deal was first announced in December 2023 but has not yet been approved.