“Populist economics”? We must have that? What do you mean?
Disregard markets, disregard profits, disregard competition and do what’s popular with the masses using statist approach to economics. I believe that would be the idea. This deal looks good for America and American workers. But the principle is not capitalism; it’s not property rights. It’s not possible without the state stepping in to make sure it happens. Applaud this model if you wish and remember that the consumer gets screwed and less efficient plants and capitalist flourish through connections to the US government, not by the market where the price wins.