Investing.com -- United States Steel Corporation (NYSE: NYSE: X ) stock fell sharply by 15% after President Donald Trump expressed opposition to the potential sale of the company to a Japanese firm. In a statement that impacted the market, Trump emphasized his admiration for Japan but declared his reluctance to see such a transaction take place, citing the iconic status of the American steel manufacturer.

During extended trading, the shares experienced a significant drop, at one point reaching a 16% decline. Trump’s remarks underscored the importance of US Steel to the national industry, referring to it as a "very special company." This unexpected political commentary has cast uncertainty over the future of the company’s ownership, leading to a pronounced sell-off in the stock market.

United States Steel Corporation, the target of a takeover by Japan’s Nippon Steel, has often been at the center of discussions about national economic security and the preservation of critical manufacturing capabilities. The potential acquisition by a foreign entity has raised concerns about the strategic implications for the domestic steel industry.

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