Trump Celebrates Nippon Steel 'Deal'
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Nippon Steel investors and analysts are asking if its $15-billion deal to buy U.S. Steel , backed but not yet approved by President Donald Trump, is positive for the near term, even if its hopes for strong U.
Trump said the 25% tariff on foreign steel he reinstated at the start of his second term would increase to 50%.
United Steelworkers raises concerns about Nippon Steel's partnership with U.S. Steel, seeking clarity on investment plans and workforce impact.
Nippon Steel declined to comment. US Steel and the White House could not be immediately reached for comment. Nikkei reported earlier in the day that a golden share was under consideration. US Steel shares were trading at $53, up 2%, their highest point since the deal was announced, as investors bet it would close soon.