Autos Drive America, the leading voice for international automakers in the United States, today sent a letter to the Biden Administration in strong support of the U.S. Steel/Nippon Steel merger.
Autos Drive America represents the U.S. operations of 13 international automakers and suppliers who operate 31 manufacturing plants, employ over 156,000 Americans, and support an additional 2.1 million American jobs. International automakers are a leading driver of foreign direct investment in the United States, with over $37 billion of investments announced over the past two years.
In the letter, Autos Drive America’s President and CEO Jennifer Safavian writes,
“Nippon Steel has been operating in the U.S. for nearly 40 years with eight production bases in seven different states. Our understanding is that this investment will modernize and expand U.S. Steel’s facilities and, if the sale to Nippon Steel were to be approved, will enhance productivity, drive innovation, and support the overall competitiveness of the U.S. steel industry on the global stage. Investments that expand production capabilities in the United States only bolster our national security capabilities.”
The letter, which was sent to Lael Brainard, Director of the National Economic Council, highlights the potential economic growth and job creation that the proposed merger may bring to the U.S., and emphasizes the unique benefits the U.S. automotive industry stand to gain from the deal.
For a PDF version of the letter, click here.
