TOKYO -- On Dec. 2, President-elect Donald Trump said on his social media platform, Truth Social, that he was totally opposed to Nippon Steel's plan to buy U.S. Steel.
Since 2000, there have been signs that China's steel industry, which had been the driving force in the global industry as China developed economically, has been slowing down. Leadership in the steel industry has moved from one country to the next over the decades.
In this video, Nikkei explains why Nippon Steel wants to acquire the American titan amid growing protectionism, changes in demand and pressing environmental issues.
