U.S. Steel CEO David Burritt is adamant that the company remains an American entity despite its recent acquisition by Japanese conglomerate Nippon Steel. The deal, which came with a golden share provision allowing President Trump to approve certain major corporate decisions, has raised concerns about the company's loyalty to America.
Burritt downplays some of the provisions in the agreement, insisting that the company is "aligned" with Trump's goals and would not have agreed to the deal if it did not benefit American workers. He acknowledges that the acquisition has brought significant investment - $14 billion worth - which will support up to 100,000 jobs.
However, when asked about the possibility of requiring Trump's approval for business decisions down the line, Burritt insists that U.S. Steel "doesn't see a reason" to close any plants. The company recently restarted production at its Granite City operation in Illinois due to increased demand.
Despite this, Burritt agrees that in the future, his team would need to obtain approval from Trump if they were to make difficult business decisions involving plant closures. Nevertheless, he believes that the partnership with Nippon Steel has strengthened national security and created economic stability.
In a nod to Trump's tariffs, which have been credited with boosting American industry, Burritt calls them "a game changer". He emphasizes that U.S. Steel remains committed to its American roots, stating that the company will continue to operate from its headquarters in Pittsburgh and maintain its brand name.
Burritt also highlights the company's fiduciary duty to both national security and Nippon Steel, asserting that their partnership is a "beautiful thing" that has aligned their interests. He concludes by emphasizing U.S. Steel's dedication to manufacturing steel products in the United States, reiterating that they are "absolutely" still an American company.
Burritt downplays some of the provisions in the agreement, insisting that the company is "aligned" with Trump's goals and would not have agreed to the deal if it did not benefit American workers. He acknowledges that the acquisition has brought significant investment - $14 billion worth - which will support up to 100,000 jobs.
However, when asked about the possibility of requiring Trump's approval for business decisions down the line, Burritt insists that U.S. Steel "doesn't see a reason" to close any plants. The company recently restarted production at its Granite City operation in Illinois due to increased demand.
Despite this, Burritt agrees that in the future, his team would need to obtain approval from Trump if they were to make difficult business decisions involving plant closures. Nevertheless, he believes that the partnership with Nippon Steel has strengthened national security and created economic stability.
In a nod to Trump's tariffs, which have been credited with boosting American industry, Burritt calls them "a game changer". He emphasizes that U.S. Steel remains committed to its American roots, stating that the company will continue to operate from its headquarters in Pittsburgh and maintain its brand name.
Burritt also highlights the company's fiduciary duty to both national security and Nippon Steel, asserting that their partnership is a "beautiful thing" that has aligned their interests. He concludes by emphasizing U.S. Steel's dedication to manufacturing steel products in the United States, reiterating that they are "absolutely" still an American company.
. This golden share provision has got to be more than just a coincidence, right? I mean, why would Trump need to approve business decisions for U.S. Steel if it's already "aligned" with his goals? It's like they're setting the stage for some kind of corporate takeover 
. And what about all that investment - $14 billion is a lot of clams 
. Is it really just about supporting American workers, or is there something more at play? I'm not buying the whole "beautiful thing" narrative 
... it's just too convenient.
So, I'm not sure if I believe Burritt's reassurances about US Steel staying true to its American roots... $14 billion from Nippon Steel sounds like a pretty sweet deal for the company 
.
. But how much autonomy does Burritt actually have as CEO? Is he really making decisions solely for the benefit of American workers or is there more to it than that? 
. It sounds like Burritt is trying to spin a narrative that makes him look like a patriot, but at the end of the day, he's still answerable to shareholders and investors 
Can we really rely on Burritt to keep the American flag waving high? I'm not saying he's a bad guy, but as an American company, they gotta be more transparent about their operations. Maybe it's time for them to create a board of directors that represents both US and Japanese interests? That way, everyone's got a seat at the table 
. The fact that US Steel is committed to keeping its HQ in Pittsburgh and maintaining its brand name is a good sign too 
. It's all about finding a balance between national security and business interests, right? 
so now he gets to dictate what happens to America's steel industry? seems like a major conflict of interest to me 
but Burritt just says it's all good because the deal will create jobs and stuff... yeah right 
sounds like they're trying to buy influence 
. It's like, on one hand, I get why you wanna invest $14 billion into creating jobs, but on the other hand, it feels like you're kinda... selling out? 
. What if the Japanese shareholders start making decisions that don't align with American workers' interests? It's a risk, right? 
I mean, $14 billion in investment and 100k jobs? That's some serious cash and employment opportunities 
. It's not like they're abandoning America or anything 
. They're just adapting to the global market and making smart business decisions that benefit everyone involved 
. Who knows, maybe this will lead to more American companies going global and bringing home the bacon 
! 
100k jobs might sound good on paper, but its not like they're creating those jobs from thin air 
. I'm not saying Burritt is trying to be deceitful, but I think we need more transparency about how this partnership will really play out in practice 
. And can we talk about the $14 billion investment - that's a lot of cash coming from Japan... does it feel like America's interests are still being looked after here? 
. Like, it's not like the US is losing control of the whole thing...