US Steel’s David Burritt is calling on President-elect Donald Trump to reverse President Joe Biden’s decision to block the company’s sale to Japan’s Nippon Steel. The deal, valued at over $14 billion, was blocked by Biden citing national security concerns after a monthslong review by the Committee on Foreign Investment in the United States.
Burritt claimed that Biden’s actions were “wrongful, shameful, and corrupt” and urged Trump to take a fresh look at the deal. US Steel and Nippon have filed a lawsuit against Biden’s decision, alleging that it was unconstitutional. Burritt believes Trump can convince him that the deal is in the best interest of the company and US workers.
The White House stated that a committee of national security and trade experts deemed the acquisition would pose a risk to American national security. However, Burritt remains optimistic about Trump’s ability to reconsider the deal.
Source: https://www.cnbc.com/2025/01/07/us-steel-ceo-calls-for-trump-to-take-fresh-look-at-nippon-deal-slams-biden-decision-as-corrupt.html