Trump reiterates opposition to USS sale to foreign firm

Speaking at a rally at New York City’s Madison Square Garden (MSG) on Sunday, Trump first reminded the crowd, which he said included steelworkers: “I saved our steel. I saved our steel plants.”

That was most likely in reference to the Section 232 duties he had imposed on steel imports in 2018 under the guise of national security. Those duties remain mostly on the books today.

“I don’t like Japan buying U.S. Steel,” Trump continued in his speech on Sunday.

The businessman-turned-politician told MSG attendees that the US wouldn’t be going to war, and certainly not World War III, under his presidency.

However, “On the long shot that we do,” he added that sourcing steel from elsewhere is always possible.

“But we need steel. And I would not approve U.S. Steel being bought by Japan,” he stated.

As has been heavily reported by SMU and numerous news outlets, Nippon Steel, Japan’s largest steelmaker, has offered $14.9 billion to buy the Pittsburgh-based steelmaker. The two companies hope to close the deal by the end of this year.

And while Japan itself isn’t trying to buy USS, veteran trade attorney Alan Price points out that Nippon Steel could be using ‘green’ subsidies from the Japanese government to offset the cost of the acquisition.