Trump to reiterate he will stop US Steel sale to Nippon

By Gram Slattery and David Shepardson

YORK, Pennsylvania (Reuters) – Republican presidential candidate Donald Trump on Monday will reiterate he would block Nippon Steel’s planned purchase of U.S. Steel and move to rescind Biden administration power plant pollution rules.

Trump in February had signaled he would move to block the deal. Trump will tell workers in York, Pennsylvania, that if elected he “will stop Japan from buying U.S. Steel,” according to prepared remarks released by the campaign.

Shares in U.S. Steel had been lower and fell after Trump’s planned remarks were reported and were recently trading down 3.5%. President Joe Biden in March said it is vital for U.S. Steel “to remain an American steel company that is domestically owned and operated.”

In April, the Environmental Protection Agency published final rules targeting carbon, air and water pollution from power plants that it says could cut over 1 billion metric tons of greenhouse gas emissions by 2047. The electricity sector is responsible for nearly a quarter of U.S. greenhouse gas pollution, according to the EPA.