Didn’t Biden flip-flop on this issue in the past?
President Biden has taken a firm stance against the proposed sale of U.S. Steel to Nippon Steel of Japan, emphasizing the importance of maintaining domestic ownership of the iconic American company. In a statement obtained by The Hill, Biden underscored the significance of preserving strong American steel companies fueled by the hard work of American steelworkers.
Expressing his unwavering support for the steelworkers, Biden reiterated his commitment to safeguarding their interests, stating, “I told our steelworkers I have their backs, and I meant it.” With U.S. Steel’s century-long legacy in mind, the President emphasized the necessity for it to remain under American ownership and management.
Biden’s remarks mark the first time he has publicly addressed the issue since Nippon Steel announced its intention to acquire U.S. Steel for approximately $14 billion in December. The proposed acquisition has sparked concerns among Pennsylvania lawmakers and steelworkers regarding potential job outsourcing and its impact on union workers and U.S. supply chains.
The White House had previously stated that the deal would undergo review by the Committee on Foreign Investment in the United States (CFIUS). The outcome of this review holds significant weight for Biden, particularly in an election year, as his support for union workers and the economy takes center stage in his reelection campaign.
Positioning himself as a staunch advocate for labor unions, Biden has touted his administration’s achievements in achieving low unemployment rates and bolstering domestic supply chains as indicators of a robust economy. The United Steelworkers, which endorsed Biden in the 2020 election, echoed their support for the President’s stance, emphasizing the need to safeguard domestic steelmaking capacity and praising his commitment to revitalizing critical supply chains.
Despite the tensions potentially arising from Biden’s opposition to the Nippon Steel purchase, White House officials sought to downplay any rifts in the U.S.-Japan alliance. With Japanese Prime Minister Fumio Kishida scheduled to visit the White House in April, the administration emphasized the enduring partnership and friendship between the two nations. White House spokesperson John Kirby underscored the President’s anticipation of discussing a wide range of bilateral issues during Kishida’s visit, reaffirming the strength of the alliance between the United States and Japan.