President Trump has expressed support for Union Pacific's proposed $72 billion acquisition of competitor Norfolk Southern, a transaction currently awaiting regulatory approval. Speaking to reporters in the Oval Office on Friday, Trump stated: "Union Pacific is a great railroad company, and the railroad company they're looking to acquire had a serious accident in an area I care deeply about."

This comment clearly referenced the 2023 Norfolk Southern freight train derailment in East Palestine, Ohio, which resulted in toxic chemical spills and health impacts for residents. "They're trying to acquire this railroad company that had problems. Honestly, I think it's a good proposal, very reasonable," he added.

Trump also praised Union Pacific's leadership, saying he has "great respect for the president of this railroad company."

If approved, the merger would create a massive transcontinental rail transportation enterprise spanning the United States. The Surface Transportation Board, the economic regulatory body for the U.S. railroad industry, is currently evaluating the transaction. Based on enterprise value, the deal values the target company at approximately $85 billion.

Earlier this month, Union Pacific CEO Jim Vena held discussions with Trump and senior government officials regarding the merger. This move demonstrates the company's active engagement with the highest levels of the U.S. government to secure regulatory approval for the acquisition.

Should the transaction ultimately receive approval, connecting Union Pacific's railroad network across western states with Norfolk Southern's rail lines along the East Coast would create America's first continuous transcontinental railroad linking both coasts.

U.S. regulations impose stricter requirements on railroad mergers compared to acquisitions in other industries: railroad merger transactions must demonstrate they serve the public interest and promote market competition. The two companies plan to complete the transaction in early 2027.

In August, Commerce Secretary Howard Lutnick signaled positive sentiment toward the deal, stating he would be open to such mergers if railroad industry consolidation could improve operational efficiency.