My understanding is US Steel isn't doing very well. Nippon Steel was looking into buying US Steel, but there have been some national security concerns of having US Steel beholden to a foreign company, even if they belong to an allied nation. One of the big concerns was reducing US produced steel and bringing in more foreign made steel by other steel operations owned by Nippon Steel. I can understand the national security concerns and can understand why it was blocked, though it's also clear something needs to be done to apparently save US Steel and this purchase was seen as necessary to save them.
My understanding is US Steel isn't doing very well. Nippon Steel was looking into buying US Steel, but there have been some national security concerns of having US Steel beholden to a foreign company, even if they belong to an allied nation. One of the big concerns was reducing US produced steel and bringing in more foreign made steel by other steel operations owned by Nippon Steel. I can understand the national security concerns and can understand why it was blocked, though it's also clear something needs to be done to apparently save US Steel and this purchase was seen as necessary to save them.
Agreed; the problem is having an administration that thinks the US can do no wrong, even when some assets are going down faster than the Titanic. The "powers that make-believe" should have actually welcomed such an offer from a former adversary that has since been groomed to be one of the US's best allies as of late.
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