Nippon Steel and U. S. Steel File Multiple Lawsuits in Response to Wrongful Interference with the Proposed Acquisition of U. S. Steel

“Unfortunately, the committee that was responsible for evaluating national security risks became politicized…Instead of just looking at national security risks, of course there's none — it's an ally, Japan, that's going to invest in America, make steel here in America, build in America.”

“It is incomprehensible and regrettable that this kind of decision has been made on the grounds of concerns over national security.”

“President Biden claiming Japan's investment in an American steel company is a threat to national security is a pathetic and craven cave to special interests that will make America less prosperous and safe. I'm sorry to see him betraying our allies while abusing the law.”

“The Biden administration’s politicization of Nippon Steel’s acquisition of U. S. Steel threatens to impose a high economic cost on the American people in the years ahead. The first detrimental impacts will likely be felt by steelworkers – in Pennsylvania, Indiana, and other states – whose livelihoods are threatened by this decision. The decision also could have a chilling effect on international investment in America. The investment of our important and reliable ally, Japan, supports nearly one million American jobs alone. The business community will continue to work to facilitate investments from abroad that help grow our economy and support American families.”

“President Biden’s insistence that blocking the U.S. Steel--Nippon Steel merger would be beneficial for U.S. security and the career prospects of U.S. Steelworkers reflect a fundamental misunderstanding of the industry and broader economy. If he follows through on his threat it will inevitably result in fewer jobs in the domestic steel industry, a frayed alliance with Japan, and a reduced steelmaking capacity--precisely the opposite of his ostensible goal.”

“The potential sale of U.S. Steel to Nippon Steel presented a significant opportunity for Gary and the American steel industry to grow and prosper. Now, we face an uncertain future, with Gary Works potentially losing investment and jobs.”