Here’s what happened.
David Burritt, the president and CEO of U.S. Steel, sharply criticized President Joe Biden’s recent move to block the company’s $14.9 billion sale to Japanese steel giant Nippon Steel, calling the decision “shameful” and “corrupt.” Biden’s intervention, which came in the form of a presidential order issued Friday, followed a recommendation from the Committee on Foreign Investment in the United States (CFIUS), citing national security concerns.
Burritt’s statement took aim at both Biden’s decision and the influence of union leaders in shaping the outcome. The president’s move was motivated, in part, by strong opposition from the United Steelworkers Union, which feared Nippon Steel would fail to fulfill promises related to plant investments and workers’ pensions. Burritt, however, argued that the decision was driven more by political payback than genuine concern for the workers or the nation’s security.
“President Biden’s action is a political favor to union bosses out of touch with their members. It’s an insult to American workers, undermines our economic future, and weakens national security,” Burritt declared. He pointed out that the deal would have provided significant investments in U.S. Steel’s operations, benefiting employees and communities. He also expressed frustration that Biden had not even met with company leadership to understand the full scope of the agreement.
Burritt further noted that Biden’s move alienated Japan, a crucial ally in the region, while potentially strengthening China’s position on the global stage. “The Chinese Communist Party must be celebrating right now, as this move weakens American competitiveness and emboldens our adversaries,” Burritt added.
In contrast, former President Donald Trump, who remains a strong advocate for American manufacturing, also weighed in on the decision. On his Truth Social platform, Trump called for U.S. Steel to remain independent, vowing that if he were president, he would block any foreign takeovers. He promised to use tariffs and tax incentives to keep U.S. Steel strong, saying, “We’ll make U.S. Steel great again, and it will happen FAST!”
Burritt’s statement and Trump’s backing underscore the growing frustration within the Republican Party regarding Biden’s handling of American industry, especially in the face of growing competition from China. The U.S. steel industry, a vital component of national defense and economic strength, deserves leadership that prioritizes American interests—not political favoritism.