- U.S. Steel CEO David Burritt called for President-elect Donald Trump to reverse President Joe Biden's decision to block the company's sale to Nippon Steel.
- Biden formally stopped the more than $14 billion deal on Friday, citing national security concerns after a monthslong review by the Committee on Foreign Investment in the United States.
U.S. Steel CEO David Burritt on Tuesday appealed to President-elect Donald Trump to reverse President Joe Biden's decision to block the company's sale to Japan's Nippon Steel.
"The president can step in now and undo the wrongful, shameful, corrupt actions of Biden," Burritt said Tuesday on CNBC's "Squawk on the Street."
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Biden formally blocked the more than $14 billion deal on Friday, citing national security concerns after a monthslong review by the Committee on Foreign Investment in the United States.
U.S. Steel and Nippon filed a lawsuit Monday asking a federal court to reverse Biden's decision, alleging that the president acted unconstitutionally.
Trump has also opposed U.S. Steel's sale to Nippon. Burritt believes he can convince the president-elect that the deal is in the best interest of the company and U.S. workers.
Money Report
"What we want is for due process to work," Burritt said. "Obviously, we have a new president that will take a fresh look at this. We understand what his current views are, but he's smart guy. He has the opportunity to have fresh eyes and do what's right, and I believe strongly he will," he added.
The White House, when asked for comment, said "a committee of national security and trade experts determined this acquisition would create risk for American national security." The Trump transition team referred back to the president-elect's previous comments opposing the deal.
