This is the alliance that nobody expected.
Joe Biden and Donald Trump have been bitter enemies for years.
But in a sudden announcement, Biden decided to team up with Trump.
One of Donald Trump’s core campaign planks has been his desire to protect U.S. industry from corporations that offshore labor.
He wants to see those jobs returned to the U.S. in the hopes it will give the economy the boost people are looking for.
This will be a major shift from the Biden administration which did not prioritize America in many ways.
But on his way out the door, Joe Biden is giving Trump a gift that’s caught a lot of people off guard.
Trump has been pushing to block a new deal that would involve the takeover of a large portion of the American steel industry by a Japanese company.
And – in one of his final moves as President – Joe Biden has teamed up with Trump and has decided to block this foreign takeover.
According to Newsweek, “President Joe Biden is expected to announce on Friday that he will block the contentious takeover of U.S. Steel by Japan’s Nippon Steel, delivering a political gift to Donald Trump less than three weeks before his inauguration. The news was first reported by the Washington Post on Friday.”
“The potential takeover of U.S. Steel by Nippon Steel was one of the most disputed issues during the 2024 presidential race. It became so contentious, in fact, that the Biden administration agreed to grant a request by the Japanese company to resubmit its filing with the Committee on Foreign Investment in the U.S. (CFIUS) in September to make sure the process wasn’t being politicized.”
“In December the agency concluded that there was a risk that the takeover of the iconic American company could pose a national security threat by potentially weakening the country’s industry and shrinking its steel production.”
The fact this was decided after Trump won the election may not be a coincidence at all.
The voters spoke and it’s clear they want to see industry returned to the U.S. instead of offshored to other countries.
However, as the de facto head of the Democrat Party, Biden’s move likely won’t make Nancy Pelosi happy.
It makes it that much harder for her to push back on Trump now and build towards a Democrat comeback.