Senator Jim Banks (R-Ind.) and Representative Frank Mrvan (IN-01) sent a bipartisan letter to Treasury Secretary Scott Bessent urging the Department to consider national security when reviewing foreign takeovers of U.S. steel companies. They warned that foreign control puts our defense and supply chains at risk and stressed the need to keep American steel strong. They also backed President Trump’s push to rebuild the U.S. steel industry and stop unfair trade practices.
In part, the letter reads:
“We share President Trump’s goal to revitalize the American steel industry so it can compete head-to-head with any country in the world by cracking down on illegal dumping and negotiating fair treatment for U.S. exports. We have confidence that you will conduct all foreign direct investment reviews with integrity, fairness, and in accordance with the law while protecting this critical supply chain, national security, and our workers’ interests.”