President Biden blocked a Japanese company from buying U.S. Steel.

Issues:

1) Our steel production peaked in 1979. This is an important YS based industry that needs innovation and private investment to expand.

2) The potential Japan’s buyer would have kept US Steel in Pittsburg.

3) This is not 1980. China and china’s economy is the adversary. Japan is not. I guess Japanese business making Toyota the largest producer of vehicle manufactured in the U.S. plus the secondary smell parts Japanese owned business produce here are a national security risk.

4) The real reason for this is union and environmental pressure.

5) Potential domestic buyer is reputed by CNN of being disposed to take US steel out of Pittsburgh.

6) U.S. Steel will not survive wo major investment. That is undisputed.

7) When there are no jobs to work, one cannot have a Union.

The federal govt and the EPA are the main reason for decline of US steel manufacturing!

If unions are such a great thing, why does the government have to put so much effort into subsidising them????

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give it 2 weeks and a couple days ---
backstory - in the 80's, Japan and S Korea (to a lesser extant RSA) HEAVILY subsidized steel (and pipe/tube) production, oddly on processes brought to Japan from the US after WWII - and there were tariffs put in place to stabilize ..

the baytown bridge was delayed 15 years due to steel importation issues

yes, US Steel has been in trouble a goodly while, AGAIN, ..

I think govt bailouts cause more problems than anything else. After that- unions.

This would not have been a government bail out. It was a Japanese firm purchasing U.S. Steel.

It is undisputed US Steel is going to end, fail wo major investment.

This was a private Japanese firm buying US Steel and keeping that production in Pittsburgh. It was the opposite of a government bail out.