Is Selling U.S. Steel to Japan a Threat to National Security? Here’s What Politicians Don’t Want You to Know

5 comments

1. No, of course not. Japan is an ally and has been since WW2. US Steel needs an injection of capital to stay competitive and especially to counter Chinese Steel.

   From the article ” Even though Nippon has pledged billions of dollars to fortify a struggling American company, Japan’s presence in the rustbelt is perceived as a loss of American might. During an election year, that perception matters more than the more nuanced reality at hand.   

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3. I’m voting for Harris/Walz and have to say Biden is only doing this to help Harris in Pennsylvania. It’s a terrible decision to block this. US Steel is withering. It needs money and new leadership. Nippon will bring both. Japan is a *very* close ally. It’s a perfect fit.

   The Union is worried about losing jobs. That will be a concern no matter who buys US Steel. Nippon will be more competitive and therefore have better demand, subsequently needing more labor, than if a U.S. company purchased US Steel.

   Because nothing matters but winning anymore, Biden should back burner this until after the election. If Harris wins, he should let it move forward as a lame duck and take all the heat for it. Kamala should throw him under the bus before taking office and then just never address it again.

4. I get wanting to keep the industry in us hands, but barring that, Japan is probably a great second option. US Steel is big by most standards, but behind others in tech and processes. Also, steel is a very volatile industry. Sell it. After the election.

5. Non story. There is an election. Logic goes out of the window.