In a rare moment of agreement, both Vice President Kamala Harris and former President Donald Trump have come out against the proposed acquisition of U.S. Steel by Japan’s Nippon Steel. Despite being on opposite sides of the political spectrum, they are united in opposition to a deal that could, in fact, be a win for American workers, the environment, and even national security. Their opposition is not only misguided but dangerous, as it reflects a failure to grasp the benefits of the deal or a willingness to sacrifice economic growth for political expediency.

The Benefits of Foreign Investment

The steel industry in the U.S. has long been a cornerstone of American manufacturing, particularly in places like Pennsylvania and Indiana. It’s understandable that both Trump and Harris would seek to preserve American jobs. However, opposing foreign investment under the guise of nationalism or populism ignores the realities of today’s global economy. Nippon Steel’s $14.9 billion bid for U.S. Steel includes promises to invest an additional $1.3 billion to revitalize the company’s aging facilities. This deal isn’t about outsourcing American jobs or selling out national interests—it’s about keeping American plants open and reinvigorating a struggling industry.

As the Wall Street Journal’s Charlie Dent points out, this deal could save thousands of jobs and help U.S. Steel remain competitive in an increasingly tough global market. U.S. allies like Japan are already major investors in American industries, contributing to hundreds of thousands of jobs. Rejecting this investment not only hurts U.S. Steel workers but sends a message to international investors that America is closed for business—a chilling signal at a time when foreign capital is crucial for economic growth.

National Security Concerns are Misplaced

Both Harris and Trump claim that the deal poses a national security risk, but their rationale is deeply flawed. Nippon Steel is not a Chinese state-owned enterprise; it’s a company from Japan, one of the United States’ closest allies. Japan hosts U.S. military bases, buys advanced American military technology, and has stood with the U.S. in countering China’s influence in the Pacific. Blocking this deal in the name of national security is nonsensical when Japan has been a steadfast partner in American defense.

Moreover, Nippon Steel has already addressed concerns about its previous ties to China by exiting a joint venture with Baoshan Iron & Steel, a Chinese state-owned company. The Biden administration’s own national security team has failed to articulate how Japanese ownership of U.S. Steel could harm the U.S. in any meaningful way. Blocking the deal would undermine America’s broader geopolitical strategy, which seeks to build strong alliances in the Indo-Pacific region to counter China’s influence.

Economic Patriotism or Pandering?

One has to wonder whether Harris and Trump truly misunderstand the deal’s potential or are simply pandering to union voters. Both politicians have courted the United Steelworkers and promised to protect American jobs, but by opposing this deal, they are doing the exact opposite. As the hometown Pittsburgh Post-Gazette noted, without foreign investment, there may be no long-term future for steelmaking in Pittsburgh.

Trump and Harris may think that blocking the deal protects American industry, but the reality is far more complicated. U.S. Steel has been struggling for years, and without significant outside investment, plant closures and layoffs are likely inevitable. The U.S. economy is deeply intertwined with global markets, and trying to isolate American industries from foreign investment only weakens them in the long run.

The Environmental Angle

Ironically, rejecting this deal may even hurt the Democrats’ much-touted environmental agenda. As Vox’s Dylan Matthews notes, traditional steel production—the kind that unions like the United Steelworkers are fighting to preserve—is not compatible with the deep decarbonization that Democrats advocate for. Nippon Steel’s investment could bring in cleaner, more efficient technologies, aligning with the goals of reducing carbon emissions while preserving jobs. Failing to take advantage of this opportunity would be a missed chance to align economic and environmental objectives.

A Missed Opportunity for Bipartisanship

The U.S. Steel-Nippon deal could have been a rare opportunity for bipartisanship. After all, both Trump and Biden administrations have promoted policies to bolster domestic manufacturing and protect American workers. The proposed investment from Nippon Steel aligns perfectly with these goals, injecting new capital into a struggling industry and creating jobs in the process. Instead, we’re witnessing bipartisan opposition driven by political considerations, not economic or strategic realities.

In conclusion, the opposition of Kamala Harris and Donald Trump to this deal is not based on sound economic reasoning or national security concerns. It reflects either a failure to understand the complexities of global trade and investment or a cynical attempt to win votes by pandering to special interest groups. America needs investment, job creation, and modernization in its manufacturing sector, not empty political posturing. By opposing this deal, Harris and Trump are not safeguarding American workers—they’re putting their future at risk.