WH skeptical of U.S. Steel sale to Japanese firm, calls for 'serious scrutiny'

The White House on Thursday expressed concerns about the planned sale of U.S. Steel to Japanese firm Nippon, suggesting that the purchase merited close review.

"The President believes U.S. Steel was an integral part of our arsenal of democracy in WWII and remains a core component of the overall domestic steel production that is critical to our national security," said National Economic Advisor Lael Brainard. "And he has been clear that we welcome manufacturers across the world building their futures in America with American jobs and American workers. However, he also believes the purchase of this iconic American-owned company by a foreign entity—even one from a close ally—appears to deserve serious scrutiny in terms of its potential impact on national security and supply chain reliability."

"This looks like the type of transaction that the interagency committee on foreign investment Congress empowered and the Biden Administration strengthened is set up to carefully investigate. This Administration will be ready to look carefully at the findings of any such investigation and to act if appropriate," he continued.

Brainard further highlighted the importance of the steel industry in building clean energy infrastructure and touted the Biden administration's efforts to repatriate American manufacturing jobs.

Earlier this week, reports emerged that Nippon had agreed to purchase the American firm for $14.9 billion, prompting concerns from both sides of aisle. The deal's implications hit literally close to home for Pennsylvania Democratic Sen. John Fetterman who lives across the street from the Edgar Thompson plant in Braddock, Penn.

Fetterman on Monday, filmed a video from his roof voicing opposition to the purchase and expressing concerns for the fate of the American workers who operate the plant.

"I just have to say it's absolutely outrageous that they have sold themselves to a foreign nation and a company," he said of U.S. Steel. "Steel is always about security as well, too. And I am committed to doing anything I can do, from using my platform and my position in order to block this... I am going to fight for the steel workers and the union way of life here as well, too. And we cannot ever allow them to be screwed over or left behind."

Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.