Nippon Steel slams 'inappropriate' politics in U.S. Steel deal

Block the deal.

It's either the US steel industry or Japan's which goes down the gurgler.

They want to cannibalize it, put them into managed bankruptcy, offshore the assets, stiff the workers and their families, and steal the market share. It'd be an economic war-crime.

I can imagine Americans reading in school about scrap metal in the US that was shipped to Japan pre-WWII only to be returned in the way of bombs and bullets. You are literally killing your own people.

There are cities in China that produce more steel than the US or Japan. Why would you want to be a country that no longer controls its own but is controlled by other countries?

VERY rich coming from Japan! Japan always wants an easy ride when it comes to access to overseas markets, yet they are never so accommodating when it comes to non-Japanese companies doing in Japan.

Japanese politics has had its share of shady moments, especially when it comes to the cozy relationship between the government and big corporations like Nippon Steel. Take the U.S. Steel vs. Nippon Steel rivalry, for example. In the '80s, when Japan’s steel industry grew rapidly, U.S. Steel accused Japan of unfair trade practices, claiming they were dumping cheap steel on the global market. Many saw Japan's government as too close to companies like Nippon Steel, with some even suggesting that political leaders were bending the rules to help their corporate buddies. It’s been a bit of a tangled mess, with business and politics often looking more like a game of insider deals than fair competition.

It's a two ways street, Japan wont like U.S. steel taking over Nippon Steel !?!? or would it???

7 eleven was taken over by the current Japanese owners without any problem, several Japanese businesses are owned by foreign firms and vice versa, this transaction is like no others, U.S. steel is a vital supplier to the U.S. defense contractors and that is why it is being scrutinized.

I guess all the money Nippon Steel paid to Mike Pompeo didn't add up to much. He's laughing all the way to the bank! "Wham bam, thank you ma'am..."

US steel should not be controlled by any overseas company. Setup a USA company with Americans in all power positions and do it like the reverse if it was overseas.

Nippon Steel still has confidence in the justice and fairness of America and its legal system.

LOL.

NS's Mgmt. team needs their head examined, the timing of this M&A, right in the midst of the ground zero/PA in the most important election in possibly US history.

No political candidate could support it, no matter how compelling the offer, synergies, etc. Emotions dominate in elections, and this M&A didn't fit the MAGA 'narrative'.

Kamala Harris couldn't risk voter backlash by offering her support, but the damage was done...almost makes me think NS intended to help Trump and if so why$?

NS could just have easily gone the JV route with USS to avoid tariffs, the SMART first step towards a potential future acquisition w/good timing...MORONS = NS MGMT

it may have to shutter if the sale is blocked.

It will have to shutter if the sale is blocked unless tariffs raise the price of imported steel to the same as US Steel for domestic consumption. Which will obviously increase the price of everything made in America that's made of steel: cars, trains, bridges, buildings, you name it.

That's called inflation and will make American products less competitive in international markets to boot.

Japanese want everything their own way. If not they throw their toys from the pram. Exhibit A - this story. Exhibit B - 7/11

USS will NOT shutter, as US manufacturing is set to take off with re-shoring due to Trump tariffs, tax incentives and regulatory relief. Mark my words, many buying this stock on this 'news'.

Ceding control of such a strategic industry to a foreign entity makes absolutely no sense.

Can always nationalize it if supply was a real issue.

A few weeks ago people here were whining about Trump blocking the deal. Now those same people are nowhere to be found lol

Japan wouldn't even bother laughing at a foreign entity trying to come in and take over a strategic industry player like a steel company. So go pound sand, Nippon Steel.

@NOMINATION

"A few weeks ago people here were whining about Trump blocking the deal. Now those same people are nowhere to be found lol"

It's because now that "Weekend At Bernies" Biden has agreed with Trump, they are stifled.

I don't think the sale should go through even though normally I don't like this type of government interference. Steel it too important to National defense and I am old enough to have seen political alliances come and go.

Hiring Mike Pompeo to advise them on the accusation doesn't seem to have been a good investment.

anyone have any quotes by a japanese prime minister saying they would block a foreign investment deal in a japanese company by an american company?

good luck finding any.

japanese companies and banks have certainly countered by funding or purchasing significant stock to thwart it.

no u.s. banks or domestic u.s. companies are stepping in to help u.s. steel.

”… the once great us steel…” it is no longer great. nippon steel is offering to make it whole again by technology investment and leveraging its domestic u.s. customers.

it is political interference, not sound business thinking. the shareholders voted overwhelmingly to accept the nippon steel offer. their voice doesn’t count?

japanese companies employ over a million u.s. workers in the u.s.

it’s cheap jingoism.

no u.s. banks or domestic u.s. companies are stepping in to help u.s. steel.

You'd have thought that Musk and Trump with their Patriotic billions would be eager to throw in on such a golden opportunity.

Bueller..Bueller...

david:

VERY rich coming from Japan! Japan always wants an easy ride when it comes to access to overseas markets, yet they are never so accommodating when it comes to non-Japanese companies doing in Japan.

One way street. And every single foreign company that does come to do business with Japan has to do a deal with a Japanese company to get a foot in.

anyone have any quotes by a japanese prime minister

Not the PM exactly but close enough since he would have a say of yes or no for their decision of

The Japanese government classified Seven & i Holdings Co. as "core" to national security in September 2024.

A convenience store of all things, and japan has several, being listed as "core" to Japan's national security, lol what a joke. I side with Biden on this.

Nippon Steel slams 'inappropriate' politics in U.S. Steel deal

Nippon Steel doesn't seem to understand that Biden will block the sale and Trump will block it.

Nippon Steel is nervous.

How crazy, if those two don't calm down and somehow unite or cooperate, a third party will finally pick up both remainders, probably a big steeler from India or China.

trumps short and fat fingers are all over this.

Pukey2Dec. 11  11:27 pm JST

One way street. And every single foreign company that does come to do business with Japan has to do a deal with a Japanese company to get a foot in.

japan is littered with the carcasses of foreign companies who entered the market, thinking that they’re going to do everything the same as in their country - do it our way!

no adaptation or localizing to suit the final user.

hell, the u.s. trade representative to japan demanded that toyota sell american cars at its dealerships and no localizing.

Japan is more sophisticated in adapting, building to local norms overseas.

how many americans would have bought right-hand drive cars with japanese dash labeling and the radio frequency not matching u.s. frequencies?

British Steel only survives because the Chinese bought it. Trump is going to have to nationalise US Steel to keep it afloat. Nationalised companies are money pits, but I'm sure US taxpayers will be patriotic enough not to mind.

They can create more money. It is not from the taxpayers unless taxes are raised. Just goes into the deficit.

Just do the same to 7-11.

Nippon Steel slams 'inappropriate' politics in U.S. Steel deal

Look whose talking. Japan's post war heavy industries are built on political protectionist practices.