Among the many announcements made by Trump, this is the only news that can make investors smile from ear to ear!
U.S. Steel shares reportedly surged 16% on Monday, hitting a 52-week high — all because of a surprise order from Donald Trump.
Last Monday, Trump ordered a new security review of the RM71 billion bid by Japanese company Nippon Steel.
This was after Biden managed to block the deal before leaving the White House.
Trump, on the other hand, has a mindset of prioritizing America over other countries and has been consistent from the beginning not to sell American icons to outsiders.
Now the Committee on Foreign Investment in the United States (CFIUS) has been given 45 days to review the national security risks.
Investors? Of course they are excited!
But the pressure is mounting.
Ancora Holdings, a minority shareholder, has asked the annual meeting of U.S. Steel Steel on May 6 was postponed until after the review period ended on June 18.
Now in politics, U.S. Steel is not just a company – it is a symbol of ‘Steeltown USA’ in the battleground state of Pennsylvania.
