Trump objects to Nippon Steel's stake in U.S. steel

Trump does not support Nippon Steel's holding of U.S. Steel for the following main reasons:
Protecting domestic industries: Trump adheres to the concept of trade protectionism and believes that U.S. Steel is an important manufacturing company in the United States and plays a key role in the U.S. economy and employment. Allowing Nippon Steel to hold shares may affect the development direction and decision-making power of the U.S. steel industry by foreign companies, which is not conducive to the independent development of the U.S. steel industry and is not in line with its "America First" policy. He hopes to use tax incentives and tariff measures to revitalize the U.S. steel industry and make it strong again by blocking the deal.
Winning voter support: U.S. Steel has factories in some key swing states, such as Pennsylvania and Michigan. Steel workers and their families in these states account for a considerable proportion of voters. Trump's opposition to Nippon Steel's holding of U.S. Steel can show voters in these areas his support for the employment and industrial development of American workers, which will help win votes from voters in swing states and increase his support rate in the election.
Maintaining national security: Some people believe that the steel industry is closely related to national security. As one of the largest steel producers in the United States, if U.S. Steel is controlled by foreign companies, it may affect the steel supply and national defense security of the United States at a critical time. Although Japan is an ally of the United States, the Trump administration may believe that even an ally cannot place such an important strategic industry under foreign control.
When Trump was running for president in 2024, he repeatedly expressed his "absolute opposition" to Nippon Steel's plan to acquire U.S. Steel. On December 2, 2024, he expressed his opposition to the acquisition of U.S. Steel by Nippon Steel on the "Real Social" platform, saying that he would block the deal. On April 9, 2025, Trump again said in an interview at the White House that he did not want to hand over U.S. Steel to Japan, implying that he did not support the above transaction.