David Burritt, president and CEO of US Steel Corp, speaks during a Detroit Economic Club event in Detroit, Michigan, US, on Tuesday, September 17, 2024.
Nick Antaya | Bloomberg | Getty Images
Biden It officially blocked the deal worth more than $14 billion on Friday, citing national security concerns after a months-long review by the Committee on Foreign Investment in the United States.
United States Steel and Nippon Munda suedA federal court demanded that Biden's decision be overturned, claiming that the president acted unconstitutionally.
Trump has too He opposed the sale of US Steel To Nippon. Burritt believes he can convince the president-elect that the deal is in the best interests of the company and American workers.
“What we want is for due process to succeed,” Burritt said. “We obviously have a new president who will take a fresh look at this. We understand his current views, but he's a smart guy. He has the opportunity to have fresh eyes and do what's right, and I strongly believe he will do that.” He added.
When asked for comment, the White House said, “A committee of national security and trade experts determined that this acquisition would create a risk to American national security.” Trump's transition team pointed to the president-elect's previous comments opposing the deal.
