Steel Giants Slam Biden – Lawsuit Unleashed!

(GoRealNewsNow.com) – Exposing the Biden administration’s disregard for American business interests, U.S. Steel and Japan’s Nippon Steel have filed lawsuits challenging Biden’s blockade of their $15 billion merger.

See the tweet below.

The legal action reveals how Biden’s decision, allegedly influenced by union pressure, threatens U.S. Steel’s future and America’s industrial competitiveness.

U.S. Steel and Nippon Steel are taking a stand against what they see as blatant government overreach.

The companies asserted that Biden “ignored the rule of law” to curry favor with the United Steelworkers union, a key demographic in swing states like Pennsylvania.

This move underscores the administration’s willingness to sacrifice American business interests for political gain.

The $14 billion deal, which U.S. Steel executives favored, promised to inject much-needed capital and expertise into the struggling American steel industry.

Yet, Biden’s veto, citing vague “national security concerns,” has effectively hamstrung U.S. Steel’s ability to compete globally and modernize its operations.

The lawsuit exposes the Biden administration’s hypocrisy in claiming to protect American jobs while potentially forcing U.S. Steel to consider cost-cutting measures that could harm workers.

Industry experts warn that without Nippon Steel’s proposed $3 billion investment, U.S. Steel may need to shift to cheaper nonunion electric arc furnaces and even relocate its headquarters from Pittsburgh.

The filed read:

“President Biden’s Order is the culmination of a months-long campaign to subvert and exploit the United States’ national security apparatus for the purpose of keeping a promise made by the President and his advisors to the USW leadership.”

It also names Treasury Secretary Janet Yellen and Attorney General Merrick Garland, suggesting a coordinated effort within the administration to block the deal.

Adding to the controversy, a second lawsuit has been filed against Cleveland-Cliffs and United Steelworkers President David McCall, alleging anticompetitive actions to derail the merger.

This web of political maneuvering and union influence paints a troubling picture of how decisions affecting America’s industrial future are being made in Washington.

Ironically, even former President-elect Trump opposed the deal, highlighting the bipartisan nature of the misguided protectionism that threatens American economic interests.

Trump’s astute observation about the potential for tariffs to increase U.S. Steel’s value starkly contrasts the Biden administration’s short-sighted approach.

As U.S. Steel’s financial performance continues to decline, with lower earnings and revenues compared to previous years, the consequences of Biden’s decision become increasingly apparent.

The lawsuits filed in the U.S. Court of Appeals for the District of Columbia and the U.S. District Court for the Western District of Pennsylvania represent a crucial battle for the future of American industry and the limits of government intervention in business affairs.