Nippon Steel (NPSCY) believes its proposed acquisition of U.S. Steel (X) fits with U.S. President Donald Trump’s goal of a stronger U.S., Reuters’ Yuka Obayashi and Katya Golubkova report. The bid for U.S. Steel was blocked last month by former President Joe Biden due to national security, but Nippon says the bid “contributes to Trump’s goals of promoting U.S. investment, creating U.S. jobs, and strengthening U.S. manufacturing through new investment and advanced technology transfer,” though there is no guarantee that the transaction will close.
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