(FreePressBeacon.com) – In a new outrage caused by Joe Biden at the end of his term, his recent decision to block the sale of US Steel to Japan’s Nippon Steel has sparked allegations of corruption from US Steel CEO David Burritt.
See the tweet below!
At the heart of this contentious decision are national security concerns and political motivations, leaving many questioning the true intentions and consequences for US industry and foreign relations.
President Biden has blocked the $14.9 billion takeover of US Steel by Nippon Steel, citing threats to national security as a key issue.
This move marks a notable shift from the U.S.’s traditional stance of welcoming foreign investment.
Nippon Steel, alongside US Steel, has expressed intentions to contest the decision through legal channels, implying that the review process was politically influenced.
The United Steelworkers Union, a key influencer in Biden’s decision, has lauded the move, elevating concerns about the long-term viability of an industry critical to national interests.
The decision aligns with Biden’s commitment to maintaining a robust American-controlled steel industry, aimed at safeguarding supply chain resilience.
US Steel CEO David Burritt has not minced words, vehemently criticizing Biden’s interference as “shameful and corrupt.”
He argues the decision jeopardizes the company’s future, relationships with Japan, and suggests it serves as a political concession to union leaders disconnected from their members.
“President Biden’s action today is shameful and corrupt. 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 said, cited by The Daily Wire.
This executive decision could further strain US-Japan relations, despite Biden’s reassurances that the move wasn’t specifically against Japan.
Japanese officials, including trade minister Yoji Muto, have shown disapproval, labeling the choice “incomprehensible” and casting doubt on future investment opportunities between the nations.
Biden’s decision also raises the specter of factory closures if investment doesn’t reach US Steel, despite assurances from the companies involved to preserve jobs.
This concern dangles over heavily industrial states like Pennsylvania, a pivotal swing state in upcoming elections, amplifying suspicions of politically motivated actions.
In contrast, analysts speculate that under a subsequent administration, the blocked deal might be reconsidered with different terms.
As the political and industrial landscape grapples with this decision, questions about national security, investment, and political balance linger.
U.S. Steel President slams Biden's decision to block the sale of the company to Japan's Nippon steel as "shameful and corrupt."
"He gave political payback to a union boss out of touch with his members while harming our company's future, our workers, and our national security." https://t.co/SjqS48ynP6
— Kellie Meyer (@KellieMeyerNews) January 3, 2025
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