06:28 AM EDT, 04/10/2025 (MT Newswires) -- President Donald Trump said he is against the proposed sale of US Steel (X) to Japan's Nippon Steel, Reuters reported Wednesday, citing the president's remarks at a campaign event.

Trump's opposition comes days after his administration asked a national security panel to reassess the $14 billion offer, raising expectations the deal could proceed with conditions, Reuters reported.

"We don't want to see it go to Japan," Trump said, according to Reuters.

US Steel did not immediately respond to MT Newswires' request for comment.

Following his remarks, shares of US Steel dropped by 11.9% in recent Thursday premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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