David Burritt, the president and CEO of U.S. Steel, said Friday that President Joe Biden’s decision to block the company’s sale to a Japanese rival was “shameful” and “corrupt.”
Biden’s long-awaited decision on the deal came in a presidential order posted Friday on the White House website, declaring Nippon Steel’s $14.9 billion bid for the U.S. steelmaker “prohibited.”
White House press secretary Karine Jean-Pierre told reporters Biden was acting on a recommendation by the Committee on Foreign Investment in the United States that the acquisition “would place one of America’s largest steel producers under foreign control and create a risk for our national security and our critical supply chains.”
“President Biden’s action today is shameful and corrupt,” Burritt said in a news release. “He gave a political payback to a union boss out of touch with his members while harming our company’s future, our workers, and our national security.”
Burritt was referring to the Pittsburgh-based United Steelworkers Union, which vehemently opposed the acquisition because it reportedly feared Nippon would not honor its commitments to invest in plants and preserve the pensions of workers.
“[Biden] insulted Japan, a vital economic and national security ally, and put American competitiveness at risk,” Burritt said. “The Chinese Communist Party leaders in Beijing are dancing in the streets. And Biden did it all while refusing to even meet with us to learn the facts.
“Our employees and communities deserve better. We needed a President who knows how to get the best deal for America and work hard to make it happen. Make no mistake: This investment is what guarantees a great future for U. S. Steel, our employees, our communities, and our country. We intend to fight President Biden’s political corruption.”
President-elect Donald Trump, who received backing from United Steelworkers Union membership, vowed on the campaign trail that if elected, he would fight the sale of U.S. Steel. Trump wrote last month on Truth Social, “I am totally against the once great and powerful U.S. Steel being bought by a foreign company." He wrote he will use tax incentives and tariffs to make U.S. Steel "Strong and Great Again, and it will happen FAST! As President, I will block this deal from happening. Buyer Beware!!!"
Michael Katz ✉
Michael Katz is a Newsmax reporter with more than 30 years of experience reporting and editing on news, culture, and politics.
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