US Steel Deal to Test Trump’s Populist Credentials on Day One

Jan. 10, 2025, 10:30 AM UTC

President-elect Donald Trump’s populist pledge will be immediately tested by the fight for the ownership of United States Steel Corp., forcing him to choose between domestic control of the industry and foreign investment that could benefit voters who helped send him back to the White House.

Trump will have to decide whether to advance President Joe Biden’s thwarting of a nearly $15 billion merger between the Japanese Nippon Steel Corp. and US Steel. Both men have opposed this move because it poses national security risks by leaving a large slice of the domestic steel industry in the hands of ...

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