President Trump voiced opposition to Nippon Steel's $14 billion bid for US Steel, according to the New York Post. President Biden blocked the deal in January on national security grounds, leading to a lawsuit. Trump’s administration filed for a deadline extension in the ongoing litigation, with a pause requested for further review. Both companies argued Biden’s decision was influenced by political motivations. Trump directed a national security panel on Monday to reassess the merger, fueling hopes for approval. Shares of US Steel dropped 13% after Trump’s comment.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump voiced opposition to Nippon Steel's $14 billion bid for U.S. Steel,
00:06according to the New York Post. President Biden blocked the deal in January on national security
00:11grounds, leading to a lawsuit. Trump's administration filed for a deadline extension
00:15in the ongoing litigation, with a pause requested for further review. Both companies argued Biden's
00:20decision was influenced by political motivations. Trump directed a national security panel on Monday
00:25to reassess the merger, fueling hopes for approval. Shares of U.S. Steel dropped 13%
00:31after Trump's comment. For all things money, visit Benzinga.com slash GSTV.