Outgoing Sen. Sherrod Brown (D-Ohio) on Friday hailed President Biden’s decision to block the takeover of U.S. Steel by Japan’s Nippon Steel, a deal that was valued at $14 billion.
“The deal was made behind closed doors without workers at the table. It represented a clear threat to America’s national and economic security and our ability to enforce our trade laws. It’s why we fought it every step of the way. The President is right to block it,” Brown posted on social platform X.
Brown, who represented Ohio for 18 years in the Senate before losing his reelection bid in November, had led the fight in Congress against the deal from the beginning.
Biden said Friday the deal would threaten national security.
“It is my solemn responsibility as president to ensure that, now and long into the future, America has a strong domestically owned and operated steel industry that can continue to power our national sources of strength at home and abroad,” Biden said in a statement.
Biden said his decision to block foreign ownership of a “vital American company” was the fulfillment of that responsibility.
Brown in April urged Biden to examine Nippon Steel’s ties to China, citing a report by a consulting firm that described Nippon Steel as “fundamentally intertwined with China’s steel industry.”
Nippon Steel told Reuters in a statement at the time that the report was “rife with inaccuracies and misrepresentations.”
Other Ohio lawmakers, including Vice President-elect JD Vance (R) and Rep. Marcy Kaptur (D), have raised concerns about foreign acquisition of U.S. Steel.
Brown hasn’t said what his plans are after leaving Congress, but he’s keeping his options open and is a possible future candidate for the Senate seat Vance will vacate when he’s sworn in as vice president later this month.
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