US President-elect Donald Trump has announced that he will block Japanese steel giant Nippon Steel from acquiring its American rival US Steel, a deal that was announced a year ago and worth $14.9 billion.

“I am totally opposed to the once great and powerful US Steel being acquired by a foreign company, in this case Nippon Steel of Japan,” Trump wrote on his Truth Social social media platform.

With a series of tax incentives and tariffs, we will make US Steel great and powerful again, and it will happen fast! As President, I will block this deal.”