Japan is one of our closest strategic allies, and at any rate Nippon isn't going to shutter steel plants in Pennsylvania and ship them to Japan.
Nippon is the only steel company in the world with the financial capacity to revive US production and secure US jobs. I can only guess that the unions (and the governor) are playing political chicken to get Nippon to sweeten the deal.
Both presidential candidates should keep out of this. (Full disclosure: I'm long X shares and options.)
Manufacturing steel requires ENERGY and LOTS OF IT.
Windmills & solar panels ain’t gonna cut it..........
“Nippon isn’t going to shutter steel plants in Pennsylvania and ship them to Japan.”
Just about every trick in the book has been attempted in the effort to preserve American heavy industry, from selling off to foreign companies to employee ownership. Everything has failed, except the ONE SOLUTION to the problem that has the best chance of working, jettisoning the unions, which, sadly, will likely never be done.
Harris:
“Nippon ain’t chinese.”
/s
“Allow me to clarify my opposition about the clarification I oppose.”
Uh, klownmala and clarifies can not be in the same sentence. Just sayin’. ๐๐
so from cowgirl to reverse cowgirl??
The local governments (city, county, etc) played this game and lost before. Trump got US Steel to do a billion dollar investment in the Pittsburgh area. The local governments wasted time, tried to squeeze more money - the usual nonsense. US Steel finally had enough cancelled the plansโฆ..did a $1.5B investment in Arkansas instead.
Japan was our “ally” in the early 1920s.
There is a difference between being against this as a policy and being against it as a political reaction. Policy wise: Is there a reason to ensure that there is a strong steel manufacturing base in the country, absolutely. What you do to ensure that happens is critical. Harris and Bidem created an environment that does not allow for a steel manufacturing company to thrive in America. Based on that environment the company was sold and after thoae facts were enshrined Harris and Biden came out against the same that they themselves made inevitable.
Kamala Harris clarifies her opposition to a U.S. Steel sale to Japan’s Nippon.
Because we still have plastic................................
She wants the state to take over it.
It will die. Nippon will get it for cents, sans union.
US Steelsan.
Behold the Potemkin candidate. She's a whole lot of nothing.
Behold the Potemkin candidate. She's a whole lot of nothing.
I can understand misgivings about a Japanese company owning a major steel plant in the US. If China does a lightning-fast invasion of Japan, to get even with them for the Marco Polo Bridge and the Rape of Nanking, that would give them control over the steel mills, at least on paper.
That might change if Nippon Steel takes them over and actually wants to grow market share.
>>”Both presidential candidates should keep out of this.”
Keep out of this? You’re kidding, right? This is exactly the sort of thing Presidents are supposed to care about. Whether or not it’s ultimately approved, it shouldn’t just be rubber stamped without the executive branch taking a hard look at it to see whether or not it compromises jobs or national security in any way.
Harris is playing "me too" and it's anybody's guess what would happen if she's elected.