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Opposition to U.S. Steel Deal is Misguided
and Counterproductive

Original Article

Posted By: Mercedes44, 5/25/2024 1:58:14 PM

The Biden Administration’s recent announcement of tariffs, and other protectionist measures aimed at China, is the latest increase of economic tensions and search for political momentum. The White House moves may have increased the saliency of trade as an issue, but the ignition was the December announcement of U.S. Steel’s agreement to be acquired by another publicly traded company, Japanese-based Nippon Steel. Aside of what strategic approach toward China is best, the U.S. Steel acquisition agreement illustrates how protectionist rhetoric, including the supposed defense of jobs, does not match economic reality. Similarly, the national security rationale is a thin smokescreen meant to scare Americans with borderline jingoism rather than facts.

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Reply 1 - Posted by: thefield 5/25/2024 2:23:34 PM (No. 1724775)
Another back flip by Biden. Trump puts the tarriffs on and Biden takes it off. Now Biden puts it back on. Do the Hokey Pokey.
3 people like this.

Reply 2 - Posted by: BarryNo 5/25/2024 2:23:40 PM (No. 1724776)
America should not be for sale to foreign nationals no matter who they are.
6 people like this.

Reply 3 - Posted by: plomke 5/25/2024 3:19:26 PM (No. 1724818)
If American business schools produced executives capable of running a business rather than formulating woke stupidity(BuschLite,New Coke,Boeing,Disney,any enviro green stuff),foreigners wouldn't stand a chance. But we have our priorities and they have theirs...
2 people like this.

Reply 4 - Posted by: Dreadnought 5/25/2024 6:21:20 PM (No. 1724874)
40% of American equity is owned by foreign entities. 30% of federal debt is held by foreign entities. All of it is a good investment.
3 people like this.

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