Cramer took to X, stating that it was a ‘Smart move blocking Nippon Dumper Steel deal,’ referring to the President’s statement that signaled his reluctance to give a go-ahead to the $15 billion deal.
What Happened: During a press meeting at the Oval Office on Wednesday night, Trump emphasized the importance of United States Steel for American industry, referring to it as “a very special company,” before adding “we don’t want it to go to Japan or any other place,” casting fresh uncertainty on the future of this deal.
This comes just days after Trump ordered another review of the blocked acquisition when the Committee On Foreign Investment In The United States was given 45 days to submit its recommendations.
In his Wednesday X post, Cramer refers to the Japanese giant “Nippon Dumper Steel” calling out its serial steel dumping activities in the United States. Bloomberg reported that the U.S. Department of Commerce imposed tariffs on the Japanese steel giant last year.
Price Action: Shares of US Steel plunged nearly 11% to $40.19 in after-hours trading, following a 2.5% gain to $45.14 during the regular session. Meanwhile, Nippon Steel has been rallying since Thursday morning in Tokyo, climbing over 5% at the time of writing.
According to Benzinga Edge, United States Steel stock is attractive in the short, medium, and long terms, with strong momentum and value scores. However, how does it compare with competitors Nucor and Steel Dynamics? Check out Benzinga Edge Stock Rankings for deeper insights.
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