US Steel sold to Nippon Steel

[Anonymous]

Anonymous wrote:I thought Democrats hated big corporations? They should be glad to see US Steel go. Now you can buy your steel from your local mom and pop foundry. You know, the one on the first floor of your mixed use building.

That's a poor read of a lot of things.

[Anonymous]

Anonymous wrote:How will this affect the Pittsburgh Steelers? I am assuming they are owned by the Japanese too?

What?

[Anonymous]

[Anonymous]

Anonymous wrote:

I hope he does.

[Anonymous]

Salvaged steel industry is very lucrative as sunken ships from before ww2 don’t have radio nucleotides from atomic testing. So you could make a fortune salvaging old ships

[Anonymous]

Anonymous wrote:
That's easily solved with targeted tariffs. Require American steel to call a car made in America. The nice thing about a massive trade imbalance with Japan is that they don't really have any US exports to target

That is part of the renegotiated NAFTA. However, the ownership of a company is not the relevant factor but the location of factories. US Steel with 'American" owners is capable of moving factories overseas too.

In fact, we might be better off with Japanese ownership. Disneyland Tokyo operates free of Disney oversight, and is much better. No closing of Splash Mountain as racist.

[Anonymous]

Anonymous wrote:

Democrats backing the military-industrial-complex and large, capitalistic corporations?

They are sounding extremely MAGA at the moment.

[Anonymous]

Anonymous wrote:We’re bigger than Nippon Steel

Best line of the thread.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Better than China. Japan makes excellent steel

LOL. They are not samurai swords here. Japan excels at recycling steel rather than make it from raw materials. They already closed a US Steel plant a few weeks ago. The Japanese buyers promised to honor the latest union contracts. Yeah sure. My fear is they will buy the plants and keep them on permanent standby which is something they do. They keep a skeleton crew.

JMO but our farmlands shouldn't be held by foreigners. Our apartments and rental units shouldn't be owned by foreigners, our raw materials that are needed for national security should not be owned by foreigners.

Two weeks ago: https://www.msn.com/en-us/money/companies/us-steel-layoffs-2023-what-to-know-about-the-latest-us-steel-job-cuts/ar-AA1kJuPW

Fetterman is right in this case: https://www.msn.com/en-us/money/markets/fetterman-says-he-ll-work-to-block-absolutely-outrageous-us-steel-sale/ar-AA1lHfjk" target="_new" rel="nofollow"> https://www.msn.com/en-us/money/markets/fetterman-says-he-ll-work-to-block-absolutely-outrageous-us-steel-sale/ar-AA1lHfjk

That's easily solved with targeted tariffs. Require American steel to call a car made in America. The nice thing about a massive trade imbalance with Japan is that they don't really have any US exports to target

This steel will still be made in America. They aren’t moving Pittsburgh to Japan. Just the corporate profits, if there are any.

If there are no profits, the steel mill will be closed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Democrats backing the military-industrial-complex and large, capitalistic corporations?

They are sounding extremely MAGA at the moment.

According to several replies on this thread, the left has always been supportive of large national corporations. They have never been in favor of globalism, comrade. It's double plus ungood.

[Anonymous]

[Anonymous]

Anonymous wrote:

Yup. “This looks like the type of transaction that the interagency committee on foreign investment Congress empowered and the Biden Administration strengthened is set up to carefully investigate.” 💪

[Anonymous]

While I agree with this, I also believe the US should be concerend about both

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Yup. “This looks like the type of transaction that the interagency committee on foreign investment Congress empowered and the Biden Administration strengthened is set up to carefully investigate.” 💪

That whole thing sounds strangely like protectionism and tariffs. I thought those were bad policies from the previous administration.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Blackrock owned 10% of US Steel.

Yep. Single largest shareholder.

Fits their operational model perfectly, destroying America one piece at a time.

Yup, hire top school MBAs to pillage, put millions in low pay jobs and watch fascism rise. Welcome to 2024 America.