Reuters said President Donald Trump reiterated his opposition to foreign takeover of U.S. steel on Sunday, April 13, while Air Force One returned from Florida. This statement reinforces his early remarks, which are suspicious of the $14 billion proposed acquisition of U.S. steelmakers by Japan-Japan Steel.
Last Wednesday, Trump’s comments that he didn’t want to see U.S. steel “go to Japan” caused the company’s stock value to drop 7%. After this, both companies said they were working with the government to “ensure a large amount of investment.”
Trump affirmed his position in his address to reporters on Sunday. “I don’t think foreign companies should control U.S. steel,” he said.
