I can't imagine we'll keep making steel in this country for long without that foreign investment. I don't know enough about the details of this deal to know whether Nippon is the best buyer, but this mindless opposition to foreign companies is such a self-own.
“We would be producing our own steel — with foreign investment in our country. That’s a good thing.”
A lot of foreign takeovers are only about getting the customers and the business and moving the manufacturing offshore. Dont be deluded.
I never liked Pompeo but this is hardly a reason to criticize him. Opposing the acquisition of U.S. Steel to “protect American jobs” is laughable. U.S. Steel is a fading dinosaur that isn’t even a titan in the industry anymore.
“We would be producing our own steel — with foreign investment in our country.”
Why does the premier country in the world need foreign investment to produce its own steel?
Who would be controlling the pricing?
“That’s a good thing.”
Why is it a good thing?
“I can’t imagine we’ll keep making steel in this country for long without that foreign investment.”
Why? Does Japan need foreign investment to make its own steel? Does China or India need foreign investment to make its own steel? Why does the United States, with the largest economy in the world, need foreign investment to make its own steel? Instead of selling off a critical manufacturing concern, would it not be better to see how the other countries are doing it?
“I don’t know enough about the details of this deal to know whether Nippon is the best buyer...”
So you are okay with selling off American industry to the highest bidder?
“...but this mindless opposition to foreign companies is such a self-own.”
You can’t reason. I said not a word about foreign companies in the United States.
But steel production is a matter of national security and continuation as an industrial nation.