Steel Mills

Burritt hits back after Biden thwarts USS/Nippon deal

Written by Ethan Bernard

January 3, 2025

The chief executive of U.S. Steel has come out against President Biden’s decision to block the USS/Nippon Steel deal, calling it “corrupt.”

U.S. Steel President and CEO David Burritt labeled Biden’s action “shameful and corrupt” in a statement late Friday afternoon, following the president’s announcement earlier in the day.

“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.

He was likely referring to United Steelworkers (USW) union International President David McCall, who earlier in the day had praised the decision. The union has opposed the deal since it was announced in December 2023.

Burritt added that the move also “insulted Japan, a vital economic and national security ally, and put American competitiveness at risk.”

“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,” Burritt said.

He also applauded the merits of the now-blocked deal. “Make no mistake: this investment is what guarantees a great future for U.S. Steel, our employees, our communities, and our country.”

Burritt ended the statement on a defiant note. “We intend to fight President Biden’s political corruption.”

Both Japan’s Nippon and Pittsburgh-based USS have hinted at legal action against the US government after the $14.9-billion deal was torpedoed by the Biden administration on national security grounds.

Find SMU’s in-depth coverage of Biden’s decision here.

Ethan Bernard

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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