U.S. Steel Slams Biden Over Blocked Sale Decision

Clear Facts

• U.S. Steel criticized President Joe Biden for blocking its sale to Nippon Steel, labeling the decision as “shameful and corrupt.”
• Biden’s administration cited national security and supply chain concerns as reasons for blocking the $15 billion deal.
• The United Steelworkers union opposed the sale, while U.S. Steel hoped for approval.

In a bold statement released on Friday, U.S. Steel took a strong stance against President Joe Biden’s decision to block the company’s sale to the Japanese manufacturing giant, Nippon Steel. The company’s President and CEO, David Burritt, did not mince words, describing the action as “shameful and corrupt.”

Burritt accused Biden of engaging in political favoritism, claiming that the President’s decision was a “political payback to a union boss out of touch with his members.” He emphasized the potential negative impact on the company’s future, its workers, and even national security.

Furthermore, Burritt expressed concern over the diplomatic implications of Biden’s decision, stating that the President “insulted Japan, a vital economic and national security ally, and put American competitiveness at risk.”

The CEO also criticized Biden for not engaging directly with U.S. Steel to better understand the situation, stating, “Biden refused to meet with the company to ‘learn the facts.'”

Burritt painted a dire picture of the global repercussions, suggesting that “the Chinese Communist Party leaders in Beijing are dancing in the streets” due to the blocked sale.

On the other side, President Biden defended his decision, emphasizing the importance of maintaining a strong, domestically owned steel industry. He stated, “It is my solemn responsibility as President to ensure that, now and long into the future, America has a strong domestically owned and operated steel industry.”

Biden’s administration argued that allowing foreign control of one of America’s largest steel producers could jeopardize national security and critical supply chains.

Despite the opposition from the United Steelworkers union, U.S. Steel had been hopeful that the deal, which included a $15 billion offer and promises of further investment in the U.S., would receive approval.

The President’s stance against the proposed sale first emerged in March 2024, three months after the initial announcement of the deal. As the debate continues, U.S. Steel remains committed to challenging what it views as a politically motivated and detrimental decision.

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