Trump reaffirms pledge to obstruct Nippon Steel's acquisition of U.S. Steel.

• Donald Trump, the newly elected President of the United States, has vowed to prevent Nippon Steel from acquiring U.S. Steel.
• Trump expressed opposition to the acquisition of U.S. Steel by Nippon Steel of Japan on his Truth Social platform on Monday night E.T.
• He stated that as President, he will prevent this deal from occurring and revitalize U.S. Steel by implementing tax incentives and tariffs to make it "Strong and Great Again."

Donald Trump, the newly elected President of the United States, has vowed to prevent Nippon Steel from acquiring U.S. Steel.

Trump expressed opposition to the acquisition of U.S. Steel by Nippon Steel of Japan on his Truth Social platform on Monday night E.T.

He stated that as President, he will prevent this deal from occurring and revitalize U.S. Steel by implementing tax incentives and tariffs to make it "Strong and Great Again."

Since winning a second presidential term last month, Trump has spoken about the deal for the first time on the 2024 campaign trail.

In December, Nippon Steel, the world's fourth largest steelmaker, reached an agreement to acquire U.S. Steel. However, the deal faced opposition from the United Steelworkers labor union and U.S. President Joe Biden, who has pledged to keep U.S. Steel under American ownership.

The deal has been under review by the U.S. Committee on Foreign Investment for potential national security risks associated with foreign entities.

The combined annual production capacity of U.S. Steel and Nippon Steel in Japan would be approximately 86 million metric tons.

Neither Nippon Steel nor U.S. Steel provided a comment on Trump's recent statements when CNBC requested their input.

The acquisition by Nippon Steel is expected to revitalize the American Rust Belt and improve U.S. national security, according to a spokesperson for the company.

In November, Takahiro Mori, Nippon Steel's vice chairman, stated that he believed the deal could be closed before Trump takes office in January. In September, U.S. Steel CEO David Burritt expressed confidence in the planned sale, arguing that it would enhance national security, as well as economic and job security.

The decline in U.S. Steel's shares has been more than 15% year-to-date, while Nippon Steel's shares have fallen more than 4% across the same period, according to LSEG data.