The Political Nature of Biden’s Rhetoric on US Steel

On Thursday, President Biden said he opposed Japan’s Nippon Steel’s planned acquisition of U.S. Steel, emphasizing the importance of “strong American steel companies powered by American steel workers.”

Swing States: An analysis from NPR (Lean Left bias) highlighted the proposed takeover as “a political lightning rod” in midwestern swing states, citing U.S. Steel’s roots in Pennsylvania, and “operations in Michigan, Minnesota, Ohio, and other states as well.” NPR noted former President Trump’s promise to kill the deal if elected, and that the United Steelworkers union has not endorsed a candidate yet but backed Biden in 2020.

Politics or National Security?: An analysis from MarketWatch (Center bias) noted the president’s ability to block foreign acquisitions that run against national security interests, but also that the Committee on Foreign Investment in the United States must come to an “impartial conclusion” first. MarketWatch quoted an expert who said it’s “unusual” for the president “to put out a statement before there’s been an official finding.”

Fake Populist Rhetoric: The Wall Street Journal Editorial Board (Lean Right bias) criticized the stances of both Trump and Biden, arguing that Nippon’s acquisition of U.S. Steel “would enhance U.S. economic strength by making U.S. Steel’s operations more competitive.” It called Biden’s rhetoric “a bad look” and said while the political competition between Trump and Biden appears to be “populist,” it’s actually “corporatist” and “is going to do a lot more harm in the next seven months.”