As soon as President-elect Donald Trump takes office, he should reverse President Joe Biden’s wrongheaded and arguably illegal decision to block the sale of U.S. Steel to Nippon Steel of Japan.
Biden made the long-anticipated decision on Jan. 3, citing spurious “national security” concerns. During the presidential campaign, Trump also said he opposed the sale to Nippon Steel, but he should change his mind. It would save jobs and perhaps create new ones. Stopping the sale would probably mean the elimination of up to 11,000 jobs in Pennsylvania and would cost U.S. Steel shareholders some $4 billion, according to a widely cited report first obtained by the Washington Examiner last July.
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