Donald Trump campaigned against Nippon Steel’s $14.9 billion acquisition of U.S. Steel, saying last year that it was a threat to American workers and pledging to block it “instantaneously.” But after a lobbying blitz led by two of his top campaign bundlers, Geoff Verhoff and Brian Ballard, Trump reversed course in May and announced support for the deal. Trump’s flip-flop favored his fundraisers’ interests over the United Steelworkers (USW), who oppose the deal, citing Nippon’s history of trade violations, unenforceable economic pledges, and their exclusion from the talks.
U.S. Steel
Trump Flip-Flopped on U.S. Steel Deal After Lobbying Blitz by His Top Bundlers
Summary
Despite repeatedly saying he opposed Nippon Steel's takeover of U.S. Steel, President Trump reversed his stance following pressure from lobbyists who raised millions for his re-election.
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