Former President Biden’s veto of the proposed merger between Nippon Steel and United States Steel was a distressing example of twisted logic and misleading propaganda to justify a baldly political action that, if not reversed, would result in long-lasting harm to our economic well-being and national security. President Trump should undo his mistake and permit the merger to go through.
Biden claimed that “a committee of national security and trade experts across the executive branch determined this acquisition would place one of America’s largest steel producers under foreign control and create risk for our national security and our critical supply chains,” effectively implying--falsely--that the Committee on Foreign Investment in the United States (CFIUS), had recommended that he veto the merger.
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