U.S. Steel dips after Trump says ‘don’t know’ if Nippon Steel deal needed

Shares of United States Steel (X) are fractionally lower after President Donald Trump made comments distancing himself from his prior offer to negotiate an investment by Japanese steelmaker Nippon Steel (NPSCY) Corp “I think maybe more than anybody else the steel companies, and the aluminum companies, they’re in love with what’s happened and this will eventually be the car companies, chip companies,” Trump told reporters in the Oval Office. “As you know, in Pennsylvania, US Steel is through the roof. They’re all through the roof. That’s why I didn’t want US Steel to make a deal with Japan or anybody else. I think US Steel right now has all the power. The tariffs have given US Steel a new lease on life,” Trump added. Trump declined to repeat his previous pledge to help negotiate an investment from Nippon Steel, saying “I don’t know” when asked if he still planned to facilitate talks, according to Bloomberg.