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The Best Way to Preserve U.S. Steel Is to Approve Its Sale - The New York Times [1]
['David B. Burritt']
Date: 2024-12-22
This is a pivotal moment for the future of American manufacturing. The United States must make the right decision.
U.S. Steel agreed over a year ago to be purchased by Japan’s Nippon Steel — a deal that is an extraordinary opportunity to secure the future of our company, invest in our communities and advance a more competitive, innovative and resilient steel industry. The deal would strengthen America’s global position by deepening an alliance with one of our strongest allies and allow us to better fight China’s blatant, unchecked manipulation of the market.
Since then, President Biden and President-elect Donald Trump have said they oppose the deal, arguing that U.S. Steel should be American owned. Multiple news reports say a final decision from the Biden administration could come very soon.
I understand that the sale of an iconic company like U.S. Steel stirs deep emotions, and I share them. U.S. Steel is an institution that helped shape this nation. But as we honor our history, we must also confront today’s realities. U.S. Steel is no longer the industry leader it was in Andrew Carnegie’s era. We are only the third-largest steel maker in the United States and just 24th globally. Our employment peaked in 1943, and production peaked in 1953. Our primary customers now are auto companies and appliance manufacturers, not the military and infrastructure sectors that once defined us.
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[1] Url:
https://www.nytimes.com/2024/12/22/opinion/us-steel-nippon-biden-trump-cfius.html
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