Shares of U.S. Steel (X) are down $3.05, or over 7%, to $37.90 in pre-market trading after President-elect Donald Trump said on his Truth Social platform that he is “totally against” the company’s deal to be acquired by Nippon Steel (NPSCY). In his post, Trump stated: “I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan. Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!”
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