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Trump Vows to Block Nippon-U.S. Steel Deal

By    |   Sunday, 29 September 2024 05:31 PM EDT

Former President Donald Trump vowed Sunday while speaking to supporters in Pennsylvania that if elected, he will fight the sale of U.S. Steel to Japan's Nippon Steel.

"I will not allow U.S. Steel to be sold to Japan," said the GOP nominee during his rally in Erie, Pennsylvania. "We're going to fight that, right?"

U.S. Steel is headquartered in Pennsylvania.

Last week, a U.S. national security panel reviewing a $14.9 billion bid from Nippon Steel to buy out U.S. Steel agreed to allow the companies to refile their application for the deal, which delayed a decision on the merger until after the Nov. 5 election.

Vice President Kamala Harris said in a rally in Pennsylvania earlier this month that she wants U.S. Steel to stay "American owned and operated," while Trump has pledged to block the deal. Both candidates are seeking to gain union votes. 

Trump on Sunday vowed several other economic measures, including a promise to all companies that their taxes will be cut from 21% down to 15% only if they make their products in the United States and hire American workers. 

"If you're a foreign country and you don't make your product here, then you will have to pay a tariff, a fairly substantial one, which will go into our Treasury," said Trump. "On the other hand, if you want to build your factory in the United States, there will be no taxes, there will be no tariffs, there will be nothing to pay. So if you build your factory or your plant in the United States, there will be no tariff." 

This means Americans will be "getting so many job offers, and a lot of it's going to take place right here in Pennsylvania."

The nominee also promised to pass the Trump Reciprocal Trade Act, which means that if a country charges a 100% or 200% tariff, "we will charge them a reciprocal tariff or tax of 100% or 200% and we will do it immediately."

Trump further promised that he will not let Mexico, China, or other countries sell vehicles into the United States "to the detriment of our autoworkers."

The Biden administration's electric car mandates, he added, will mean the United States "will not have any autoworkers."

"The autoworkers are going to vote overwhelmingly for me," said Trump. "They have a stupid person in charge of the union ... he agreed and wants to build all-electric cars. If you do that there will be no more auto jobs. They'll all be made in China and other places."

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Sandy Fitzgerald

Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics. 

© 2024 Newsmax. All rights reserved.


Politics
Former President Donald Trump vowed Sunday while speaking to supporters in Pennsylvania that if elected, he will fight the sale of U.S. Steel to Japan's Nippon Steel.
trump, erie, us steel, rally
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2024-31-29
Sunday, 29 September 2024 05:31 PM
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