Look at this! I did some research Porwest / myLot

@NJChicaa (120804)

United States

January 3, 2025 11:23am CST

I saw the headline this morning that President Biden was blocking the purchase of USS Steel by Nippon which is a Japanese steel company. Supposedly it was due to monopoly and national security issues. That made no sense to me. Monopoly I get but national security? Japan isn't China or Russia and is one of our allies. So I asked my resident steel expert--my ex. He's worked in the world of steel for decades. He said that it is a bad decision and will result in more US jobs being lost. He said Nippon pledged to spend $3 billion to upgrade and improve US domestic factories. Look at that @porwest. I asked someone who knows their stuff and who has different political views about this Biden action. It sounds foolish if it only involves Japan.

8 people like this

6 responses

The Horse

@TheHorse (221757)

• Walnut Creek, California

3 Jan

Well dang! You know how to do your own research? And you're willing to disagree with someone you voted for? What. Are you intelligent or something?

3 people like this

NJ Chicaa

@NJChicaa (120804)

• United States

3 Jan

I've demonstrated that a zillion times over the years

1 person likes this

LindaOH

@LindaOHio (183892)

• United States

4 Jan

Interesting. I'm glad you did your research. Have a good weekend.

1 person likes this

Kayla Tsukino

@kaylachan (73639)

• Daytona Beach, Florida

3 Jan

It really does.

Valerie J. Routhieaux

@just4him (318470)

• Green Bay, Wisconsin

3 Jan

I'm glad you did your research.

A A

@anya12adwi (10142)

• India

3 Jan

It is easy to name any action as to secure national interest or protect national security!

Jim Bauer

@porwest (94730)

• United States

8 Jan

I applaud you. However, I side with Biden on this one. To me it IS a national security concern. I understand that as a result of this, job losses may occur if US Steel can't secure another buyer or lose their lawsuit and can't complete the sale. At the same time, national security concerns outweigh labor concerns. At least to me. Sure, some jobs would potentially be saved by the deal. But if Nippon owns the company, they can say whatever they want and do something entirely different. There is no law saying they'd have to KEEP operations in the United States, and there would be nothing stopping them from reneging on their $3 billion pledge much like what happened with the Foxconn deal in Wisconsin where LOTS was promised for tax incentives and other breaks that they never delivered half of what they promised on. Nippon LIKELY would have kept operations here to avoid tariffs. But again, there's no guarantee. They also don't HAVE to sell their steel to us.