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David Burritt, president and chief executive officer of US Steel Corp., speaks during a Detroit Economic Club event in Detroit, Michigan, U.S., Tuesday, Sept. 17, 2024.
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Biden formally blocked the more than $14 billion deal on Friday, citing national security concerns, after a month-long review by the Committee on Foreign Investment in the United States.
US Steel and Nippon sued Monday is asking a federal court to overturn Biden’s decision, arguing that the president acted unconstitutionally.
So does Trump opposed the sale of US Steel to Nippon. Berrit believes he can convince the president-elect that the deal is in the best interests of the company and US workers.
“We want due process to work,” Burritt said. “Obviously, we have a new president who will take a new look at this. We understand his current views, but he’s a smart guy. He has the opportunity to take a new look and do what is right, and I firmly believe that he will do it,” he added.
Asked for comment, the White House said “a committee of national security and trade experts has determined that this acquisition poses a risk to US national security.” Trump’s transition team has gone back on the president-elect’s previous comments opposing the deal.
