Fact Check: Biden and Trump both vowed to block Nippon Steel's acquisition
What We Know
The claim that both President Biden and former President Trump vowed to block Nippon Steel's acquisition of U.S. Steel is partially true. President Biden officially blocked the proposed acquisition on January 3, 2025, citing national security concerns. This decision was made after the Committee on Foreign Investment in the United States (CFIUS) conducted a review and recommended that the President take action to protect U.S. interests (source-1, source-2).
During his presidential campaign, Biden had expressed opposition to the acquisition, which he reiterated when he took office, stating the need for strong American steel companies to protect national interests (source-2).
As for former President Trump, while there is no direct evidence that he explicitly vowed to block this specific acquisition, he had previously taken a hard stance on foreign investments in U.S. companies, particularly in critical industries like steel. His administration had blocked other foreign acquisitions on similar grounds, but no specific vow regarding Nippon Steel's acquisition of U.S. Steel was documented during his presidency (source-3).
Analysis
The evidence supporting Biden's commitment to blocking the acquisition is robust, as he officially issued an order prohibiting the deal based on national security risks (source-1, source-2). His statements during the campaign and after taking office indicate a consistent position against the acquisition.
However, the claim regarding Trump is less substantiated. While he did advocate for protecting American industries, there is no specific record of him vowing to block this acquisition during his tenure. The lack of direct quotes or documented statements from Trump regarding Nippon Steel's bid weakens the claim of his involvement in this specific case (source-4).
In evaluating the reliability of sources, the information from reputable news outlets such as the Associated Press and The New York Times is generally considered credible. These sources have a history of accurate reporting on political matters and corporate acquisitions, which adds to the reliability of the information presented.
Conclusion
The claim that both Biden and Trump vowed to block Nippon Steel's acquisition of U.S. Steel is Partially True. Biden's commitment is well-documented through his official actions and statements, while Trump's involvement lacks specific evidence related to this acquisition. Thus, while Biden's vow is clear and substantiated, Trump's role is more ambiguous and not directly tied to this particular case.
