Trump Shifts Stance on U.S. Steel Deal

President Trump announced a 'planned partnership' between U.S. Steel and Japan-based Nippon Steel, contradicting his previous opposition to Nippon's $15 billion bid to buy U.S. Steel, which was blocked by former President Joe Biden. The partnership will keep U.S. Steel's headquarters in Pittsburgh and is expected to create at least 70,000 jobs and add $14 billion to the U.S. economy.

Asia-Pacific markets traded mixed on May 26, 2025, as investors reacted to U.S. President Donald Trump's postponement of 50% tariffs on European Union imports. South Korean shares surged over 1%, while Japan's Nikkei 225 increased 0.86%. Mainland China's CSI 300 index declined by 0.73%. The U.S. dollar weakened against several Asian currencies, and shares of Nippon Steel gained over 7% after Trump's support for its $14.9 billion bid to acquire U.S. Steel. Australian logistics software company WiseTech Global surged over 5% after announcing a $2.1 billion purchase of E2Open.

The article critiques Donald Trump's demand that retailers like Walmart absorb tariffs on imported goods, arguing that this is unrealistic and will lead to price increases for consumers. Trump suggested that retailers could 'eat the tariffs' without passing on the costs, but the article argues that this ignores the reality of how businesses operate. Many retailers, including Walmart and Target, have warned that they may raise prices due to the tariffs. The article also notes that some companies, like Home Depot, may try to absorb the costs, but this could lead to reduced earnings and supply chain disruptions. The author argues that tariffs are essentially a tax on imported goods and that companies should be transparent about the impact of tariffs on their prices.