By Gram Slattery and David Shepardson
YORK, Pennsylvania, Aug 19 (Reuters) - Republican
presidential candidate Donald Trump on Monday will reiterate he
would block Nippon Steel's ( NISTF ) 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.
Trump will call the rule part of an "anti-American energy
crusade" that he would seek to repeal and "instead of shutting
down power plants, we will open dozens more." He also vowed to
prevent a transition to more electric vehicles that the Biden
administration has championed.
Trump will say in his remarks that he will "issue rapid
approvals for new energy infrastructure-and we will embrace all
forms of energy, including nuclear. To power our country into
the future, including the electricity demands of AI and
cryptocurrencies, we will make a historic commitment to bringing
'Advanced Small Modular Nuclear Reactors' online."
Trump also vowed to revoke China's most favored nation trade
status and seek legislation to make China or other countries pay
reciprocal tariffs if they imposed new tariffs. He also said he
would invoke the Defense Production Act to "quickly ramp up
capacity of essential products."