According to the Securities Times APP, U.S. President-elect Trump said on Monday that a series of tax breaks and tariffs will revitalize United States Steel (X.US), and reiterated his opposition to Nippon Steel's acquisition of U.S. steel. Trump posted on social media platform: "I completely oppose the acquisition of the once powerful United States Steel by a foreign company, this time it's Nippon Steel from Japan." "I will stop this deal from happening."

After Trump made the above remarks, Nippon Steel issued a statement on Tuesday stating that it will invest no less than $2.7 billion in the unionized facilities of U.S. steel, ensuring union jobs and sharing technological innovations. The company stated: "Nippon Steel is determined to protect and develop U.S. steel in ways that strengthen American industry, domestic supply chain resilience, and U.S. national security."

Nippon Steel hopes to complete the $15 billion acquisition of U.S. steel before Trump returns to the White House on January 20 next year. Sources say that Japanese Prime Minister Yoshihide Suga wrote to U.S. President Biden last month, asking him to approve the deal. Biden has submitted the deal to the Committee on Foreign Investment in the United States (CFIUS) for review of potential national security risks.

It is reported that the deadline for CFIUS to review the deal is the end of this month. CFIUS may approve the deal, take measures to address national security risks, or recommend that the president block the deal. The committee may also extend the review period.

In December last year, Nippon Steel, the world's fourth-largest steel manufacturer, announced a $14.9 billion all-cash acquisition of United States Steel, with an acquisition price of $55 per share. With its strong financial resources, Nippon Steel hopes to expand its footprint in the United States through this acquisition, strengthen its position as a global giant, and use overseas expansion to respond to weak domestic demand. The acquisition is also expected to increase the company's global crude steel production capacity to 0.1 billion tons.

However, since the announcement, this acquisition plan has repeatedly encountered obstacles, facing unanimous opposition from the Biden administration, the United Steelworkers union (USW), and Trump. They generally oppose foreign ownership of U.S. steel because the steel produced by the company is an important commodity for building ships, trains, and infrastructure. The union is also concerned that the deal will lead to job losses.

Nippon Steel stated that this deal will benefit the U.S. economy and employment, and is in line with the policy of competing with other steel manufacturers. Nippon Steel previously stated that the company will invest billions of dollars in U.S. steel, "undoubtedly" enabling it to "maintain and possibly increase steel production capacity in the U.S." Nippon Steel also reiterated that it will not transfer any production capacity or jobs of U.S. steel overseas, nor interfere in any decisions of U.S. steel regarding trade issues, including decisions to take trade actions against unfair trade practices under U.S. law. Earlier in November, Nippon Steel stated that it still expects to complete the acquisition of U.S. steel by the end of the year.