Outgoing Sen. Sherrod Brown (D-Ohio) on Friday hailed President Biden’s resolution to block the takeover of U.S. Metal by Japan’s Nippon Metal, a deal that was valued at $14 billion.
“The deal was made behind closed doors without workers at the table. It represented a clear threat to America’s national and economic security and our ability to enforce our trade laws. It’s why we fought it every step of the way. The President is right to block it,” Brown posted on social platform X.
Brown, who represented Ohio for 18 years within the Senate earlier than dropping his reelection bid in November, had led the combat in Congress in opposition to the deal from the start.
Biden stated Friday the deal would threaten nationwide safety.
“It is my solemn responsibility as president to ensure that, now and long into the future, America has a strong domestically owned and operated steel industry that can continue to power our national sources of strength at home and abroad,” Biden stated in an announcement.
Biden stated his resolution to dam international possession of a “vital American company” was the achievement of that accountability.
Brown in April urged Biden to look at Nippon Metal’s ties to China, citing a report by a consulting agency that described Nippon Metal as “fundamentally intertwined with China’s steel industry.”
Nippon Metal instructed Reuters in an announcement on the time that the report was “rife with inaccuracies and misrepresentations.”
Different Ohio lawmakers, together with Vice President-elect JD Vance (R) and Rep. Marcy Kaptur (D), have raised considerations about international acquisition of U.S. Metal.
Brown hasn’t stated what his plans are after leaving Congress, however he’s holding his choices open and is a doable future candidate for the Senate seat Vance will vacate when he’s sworn in as vp later this month.
