Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Trump Urges Gasoline Retailers to Cut Prices to $2.50 Per Gallon, Warns of Legal Action 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
(Reuters) - Former President and Republican presidential candidate Donald Trump plans to reiterate his opposition to Nippon Steel's proposed acquisition of U.S. Steel during a rally in Pennsylvania on Sunday.
According to an advance excerpt of his speech, Trump is expected to pledge that if elected in the 2024 presidential race, he will block the Japanese steelmaker's planned purchase of the American steel company. Trump is scheduled to deliver his remarks in a state that is a critical battleground for the upcoming election, where U.S. Steel is a significant employer and an important economic presence.
Trump has consistently positioned himself as a defender of American industry, often criticizing foreign ownership of U.S.-based companies. His stance on Nippon Steel's potential acquisition aligns with his "America First" policy, which prioritizes domestic manufacturing and job creation. The former president has long advocated for keeping strategic assets under American control to ensure economic and national security.
Nippon Steel, Japan's largest steelmaker, has expressed interest in acquiring U.S. Steel as part of a broader strategy to enhance its competitiveness and expand its global operations. U.S. Steel, established in 1901, has played a pivotal role in the nation’s industrial development and remains one of the largest steel producers in the country.
Trump's pledge to block the acquisition underscores the central role that economic nationalism and trade policies continue to play in the Republican candidate's campaign platform. It also highlights his focus on issues affecting industrial states like Pennsylvania, which will be crucial in the upcoming election.
While the specifics of Nippon Steel's bid and the U.S. government's potential response remain uncertain, Trump's vow is likely to resonate with voters concerned about American jobs and foreign investment.
