President Joe Biden issued an executive order Friday blocking the sale of U.S. Steel to Japan’s Nippon Steel, citing national security and supply chain issues.
However, the president’s initial order was wrongly titled, pulling from an executive order he issued in May 2024 regarding blocking a company owned by Chinese investors purchasing land in Cheyenne, Wyoming, due to its proximity to a strategic missile base.
Oops.
White House copy-and-pastes from a previous presidential order on a Chinese real estate transaction and uses it for the Nippon Steel announcement. And forgets to delete the title. pic.twitter.com/8ibeSYujxI— Ken Moriyasu (@kenmoriyasu) January 3, 2025
Biden’s order regarding the U.S. Steel purchase by Nippon was later updated with the correct title.
The White House also issued a statement from the president explaining his decision to block the acquisition.
“As I have said many times, steel production—and the steel workers who produce it—are the backbone of our nation. A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains,” he said.
“That is because steel powers our country: our infrastructure, our auto industry, and our defense industrial base. Without domestic steel production and domestic steel workers, our nation is less strong and less secure,” Biden added.
NEW
White House copy-and-pastes from a previous presidential order on a Chinese real estate transaction and uses it for the Nippon Steel announcement. And forgets to delete the title. pic.twitter.com/waxCiVVSzM
— Insider Corner (@insiderscorner) January 3, 2025
Biden cited his position as commander in chief under the Constitution and the 1950 Defense Production Act as his authority to block the acquisition of U.S. Steel by Nippon Steel.
Is the Biden administration the most incompetent you have seen?
Yes: 0% (0 Votes)
No: 0% (0 Votes)
President-elect Donald Trump also opposed the sale, posting on Truth Social in early December, “I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan. Through a series of Tax Incentives and Tariffs, we will make U.S. Steel Strong and Great Again, and it will happen FAST!
“As President, I will block this deal from happening. Buyer Beware!!!”
CNN reported that the United Steelworkers union strongly opposed the deal, fearing Nippon will close older mill facilities in Pennsylvania and Indiana and transfer production to U.S. Steel’s newer mini-mill operation in Texas.
The result will be lost union jobs, they argue.
U.S. Steel and Nippon issued a joint statement promising to challenge Biden’s executive order in court “to protect our legal rights.”
We are dismayed by President Biden’s Executive Order to block our pending transaction with Nippon Steel. We will take all appropriate action to protect our legal rights to secure a future in which U. S. Steel can thrive and compete. Read more here: https://t.co/G6CGK6IZFx pic.twitter.com/QeIsHOXUe6
— U. S. Steel (@U_S_Steel) January 3, 2025
“Nippon Steel and U. S. Steel are confident that our transaction would revitalize communities that rely on American steel, including in Pennsylvania and Indiana, provide job security for American steelworkers, enhance the American steel supply chain, help America’s domestic steel industry compete more effectively with China and bolster national security,” the companies said.
“Nippon Steel is the only partner both willing and able to make the necessary investments – including at least $1 billion to Mon Valley Works [in Pennsylvania] and approximately $300 million to Gary Works [in Indiana] as a part of $2.7 billion in investment that it has already committed – to protect and grow U. S. Steel as an iconic American company for the benefit of the communities in which it operates and the entire American steel industry.”
Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. Advertise Today.
