Free Markets

Eric Boehm | 12.3.2024 12:00 PM

A few hours after the American stock markets closed on Monday night, President-elect Donald Trump announced that he was "totally against" the sale of U.S. Steel to a Japan-based competitor.

"As President, I will block this deal from happening," Trump promised.

When those same stock markets opened this morning, shares of U.S. Steel sank by more than 7 percent immediately (and are down nearly 8 percent as of this moment).

That's a tidy illustration of the cost of government intervention in the deal between U.S. Steel and Nippon Steel. Even though Biden's ongoing........

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