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David Burritt, president and CEO of US Steel Corp., speaks during an Economic Club of Detroit event in Detroit, Michigan, U.S., Tuesday, Sept. 17, 2024.
Nic Antaya | Bloomberg | fake images
Biden formally blocked the more than $14 billion deal on Friday, citing national security concerns after a months-long review by the Committee on Foreign Investment in the United States.
American and Nippon steel filed a lawsuit on Mondayand asking a federal court to overturn Biden’s decision, claiming the president acted unconstitutionally.
Trump has also opposed the sale of US Steel to Japan. Burritt believes he can convince the president-elect that the deal is best for the company and American workers.
“What we want is for due process to work,” Burritt said. “Obviously, we have a new president who will look at this with new eyes. We understand what his current views are, but he’s a smart guy. He has an opportunity to take a fresh look and do the right thing, and I firmly believe he will.” “he added.
The White House, when asked for comment, said that “a committee of trade and national security experts determined that this acquisition would create a risk to American national security.” Trump’s transition team referred to the president-elect’s previous comments opposing the deal.
