(TheConservativeTimes.org) – In a rare moment of clarity, Joe Biden aligned with President-elect Donald Trump when he decided to block Nippon Steel’s $14.9 billion purchase of U.S. Steel.
Trump had previously opposed the sale, proposing tax incentives and tariffs to revive U.S. Steel.
This rare alignment between Trump and Biden underscores the bipartisan concern over foreign ownership of critical American industries.
Biden justified his decision by emphasizing the critical importance of maintaining a strong, domestically-owned steel industry for national security and supply chain resilience.
This stance aligns perfectly with the America First agenda that Trump has championed for years.
“As I have said many times, steel production – and the steel workers who produce it – are the backbone of our nation. A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains,” Biden stated.
Still, critics of the move argue that America is headed for potential consequences.
They assert that the decision could deter foreign investment in U.S. companies, potentially harming economic growth.
The United Steelworkers union, a key Democrat group, also opposed the deal, fearing job losses at unionized mills.
However, some conservatives and local officials supported the acquisition, citing Nippon Steel’s financial strength as a potential boon for U.S. Steel’s future.
“Bad decision, Doesn’t actually protect union jobs and may kill the company,” one senior administration official said.
This anonymous criticism from within the administration raised questions about the long-term consequences of Biden’s decision.
After the decision was announced, U.S. Steel’s shares plummeted by over 8% in pre-market trading.
Ultimately, the true test will be whether this decision strengthens U.S. Steel and protects American jobs in the long run.
Nonetheless, millions of Americans remain confident in Trump’s ability to steer America back to the path of economic growth and prosperity.
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