Steel Mills

Burritt hits back after Biden thwarts USS/Nippon deal
Written by Ethan Bernard
January 3, 2025
The chief executive of U.S. Steel has come out against President Biden’s decision to block the USS/Nippon Steel deal, calling it “corrupt.”
U.S. Steel President and CEO David Burritt labeled Biden’s action “shameful and corrupt” in a statement late Friday afternoon, following the president’s announcement earlier in the day.
“He gave a political payback to a union boss out of touch with his members while harming our company’s future, our workers, and our national security,” Burritt said.
He was likely referring to United Steelworkers (USW) union International President David McCall, who earlier in the day had praised the decision. The union has opposed the deal since it was announced in December 2023.
Burritt added that the move also “insulted Japan, a vital economic and national security ally, and put American competitiveness at risk.”
“The Chinese Communist Party leaders in Beijing are dancing in the streets. And Biden did it all while refusing to even meet with us to learn the facts,” Burritt said.
He also applauded the merits of the now-blocked deal. “Make no mistake: this investment is what guarantees a great future for U.S. Steel, our employees, our communities, and our country.”
Burritt ended the statement on a defiant note. “We intend to fight President Biden’s political corruption.”
Both Japan’s Nippon and Pittsburgh-based USS have hinted at legal action against the US government after the $14.9-billion deal was torpedoed by the Biden administration on national security grounds.
Find SMU’s in-depth coverage of Biden’s decision here.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills

Nucor names Batterbee, Bledsoe to HR roles
Nucor Corp. has promoted Thomas J. Batterbee to the position EVP of human resources and talent and appointed Elizabeth Bledsoe to the newly created position of president of human resources and talent.

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.

USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.

SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.

POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.