**US Steel Shares Plunge Following Trump’s Comments on Ownership**
Shares of United States Steel Corp. experienced their largest decline in two months after President Donald Trump reiterated his opposition to the steelmaker being acquired by a Japanese company. On Thursday, US Steel’s stock fell over 10% in New York, marking the steepest intraday drop since early February, before recovering slightly. By 11:12 a.m., the stock was down 7% at $41.98, significantly below Nippon Steel Corp.’s $55-per-share offer to purchase the iconic American steel producer.
The decline followed Trump’s remarks made Wednesday in the Oval Office, where he cited the increase in steel orders as evidence that US Steel does not require external investment at this time. He expressed his desire for US Steel to remain American-owned, stating, “We don’t want to see it go to Japan,” while acknowledging the strong relationship with Japan.
In the past week, investors had driven US Steel shares to their highest levels since March 2024, fueled by speculation that Trump might overturn a previous decision by his predecessor to block Nippon Steel’s acquisition bid. On Monday, Trump ordered a new national security review of the proposed deal, instructing the Committee on Foreign Investment in the United States (CFIUS) to submit its findings within 45 days.
Trump reflected on US Steel’s historical significance, saying, “If you go back to US Steel from 90 years ago, it was incredible, it was the No. 1 company in the world for a long time. That’s why we don’t want to see it go to Japan.” This situation adds another chapter to the ongoing saga regarding the future of US Steel, which has been uncertain for over a year and a half.
Despite the optimism surrounding Nippon Steel’s $14.1 billion offer, both Trump and former President Joe Biden have shown reluctance towards foreign ownership of US Steel, a company that symbolizes America’s industrial strength. Ultimately, the decision may hinge on whether the CFIUS panel identifies any national security concerns related to the acquisition.
**FAQ**
*What impact do Trump’s comments have on US Steel’s future?*
Trump’s comments have reinforced concerns about foreign ownership of US Steel, potentially complicating Nippon Steel’s acquisition bid and affecting investor confidence in the company’s future.