Trump Approves Nippon's U.S. Steel Buyout, Reversing Stance | JQJO

President Trump unexpectedly approved Japanese steelmaker Nippon's $15 billion bid to acquire U.S. Steel, reversing his prior opposition. This decision, announced on his social media platform, sparked immediate controversy. While U.S. Steel's stock surged and the companies celebrated, the United Steelworkers union expressed deep concern about job losses and the erosion of domestic steel production. The Biden administration previously blocked the deal, and Trump's reversal is being criticized as a betrayal of American workers and national interests. A CFIUS review reportedly yielded a divided recommendation, but most members believed security risks could be mitigated.