President Biden’s decision to block Nippon Steel’s $14.9 billion bid for U.S. Steel might seem like a patriotic stand for national security, but let’s take a step back and ask ourselves: did this decision really serve America’s best interests? Spoiler alert—it didn’t.

Nippon Steel, Japan’s premier steelmaker, wasn’t looking to strip U.S. Steel down for parts or ship jobs overseas. On the contrary, they pledged billions in investments to modernize U.S. Steel’s aging infrastructure and guaranteed no layoffs for at least a decade. That’s ten years of job security and economic stimulus that just got tossed aside in the name of protectionism.

The Global Economy Doesn’t Wait

Here’s the thing: the world runs on free trade. The U.S. has long been a champion of global economic partnerships, knowing that collaboration often leads to growth, innovation, and prosperity. Nippon Steel’s bid wasn’t a hostile takeover—it was an opportunity to bring fresh capital, cutting-edge technology, and a competitive edge to an American industry struggling to keep up in a globalized market. Rejecting the bid risks leaving U.S. Steel stagnant and uncompetitive, an ironic outcome for a decision ostensibly made to protect American interests.

Jobs, Jobs, Jobs

Let’s talk about the workers. While the national leadership of the United Steelworkers union opposed the deal, many rank-and-file workers supported it. Why? Because they saw hope in Nippon Steel’s commitment to investment and modernization. These workers know better than anyone that U.S. Steel desperately needs a facelift to remain viable in the 21st century. Blocking the bid didn’t protect their jobs—it potentially jeopardized them.

A Blow to American Shareholders

U.S. Steel’s shareholders have every right to feel betrayed. The stock price plummeted 6.5% following Biden’s announcement, wiping out millions in market value. For many, those shares represent retirement savings or college funds. This decision wasn’t just a slap in the face to Nippon Steel; it was a direct hit to American investors who believed in the company’s future.

Protectionism in Disguise

The administration’s justification—national security—feels more like an excuse than a valid concern. Nippon Steel isn’t some shadowy entity tied to a hostile foreign power. Japan is one of America’s closest allies, and its steel industry is renowned for innovation and quality. The idea that allowing an ally to invest in a struggling American company compromises our national security is a stretch, to say the least.

The Bigger Picture

This decision signals a worrying shift toward protectionism at a time when America needs to embrace the global economy. By turning down Nippon Steel’s bid, we risk sending a message that the U.S. isn’t open for business, potentially discouraging other foreign investors. That’s not the message we want to send if we’re serious about staying competitive on the world stage.

Conclusion

Blocking Nippon Steel’s bid wasn’t a victory for America—it was a missed opportunity. Instead of revitalizing U.S. Steel and securing jobs, this decision risks leaving the company in a state of decline. Free trade, when done right, lifts all boats. By rejecting this deal, we’ve chosen short-term optics over long-term prosperity.

If America wants to lead in the global economy, we need to embrace partnerships, not push them away. Otherwise, we’re just building walls where there could have been bridges—and in this case, those bridges could have been made of stronger, more competitive steel.