Nippon Steel, U.S. Steel file suit against Biden administration, union and rival after deal scuttled

They don't want to be saved..

Keep sinking themselves..

LOL

America is saving themselves from future issues if the buyout actually was successful. Don't be short sighted

Keep it real.

LOL?

”" though Japan, where Nippon is based, is a strong ally.""

Yers Japan is a solid and reliable ally for the U.S and the west, BUT after watching what happened in S. Korea NOTHING can be guaranteed anymore.

Hi Michael. RE: Don't be short sighted Keep it real.

How do you see the future of USS steel unfolding?

An American white knight (hello Elon, I'm drowning , not waving).

Wall street investors rolling up their sleeves.

A government bail out (again).

That is pretty well all the options.

Why are there only two major steel makers left in the US?

Nippon Steel should just build a new plant in the U.S. if that's really their intention!??? why go to court and fight spending thousands more when the outcome will be the SAME.

This is how US treat the most loyal and vital ally in the pacific for 80 years ? a "security risk" ?

I don't like the CCP, but US's politics lately seems to be about pushing people away. This is one reason why China and Russia have been embolden lately.

It's time for Japan to rethink who their real ally is, definitely doubts are growing about the US, especially when their politicians who hasn't updated their world view for 80 years keep saying things like "what if WW2 Imperial Japan happens again ?".

Biden doesn't want to depend on non-US sources for production of steel, which is needed for infrastructure and defense. This is one point of view. Another point of view is that while China is number 1, Nippon Steel and US Steel combined could compete with China, and US Steel alone would go belly up unless the US government wants to subsidize them. I suspect Biden doesn't want to do that and am pretty certain Trump won't do it. Meanwhile Nippon Steel would struggle.

I don't see how not merging is a winning option.

It's hilarious that trump chimed in once again using his favorite word, tariff. 馬鹿の一つ覚え, basically "one trick pony." He doesn't know anything else, intellectually lazy.

Nippon Steel has too much business and US Steel doesn't have enough. US Steel would do much better under Nippon Steel. Is the US becoming a socialist state controlled economy rather than capitalist?

Hi Woody RE: Nippon Steel should just build a new plant in the U.S. if that's really their intention!???

That is a good point and probably the heart of the acquisition.

Nippon Steel's ability to grow in the home market is pretty well dead.

It makes sense to then try to expand into lively markets, i.e. the US.

To build a plant from the ground up would mean conforming to the many many regulations for such a dirty industry. Plus the water rights and access to mass freight systems to transport raw materials in and finished product out.

You can imagine the environmental footprint of such a plant.

In acquiring USS, Nippon steel would avoid the time lag, messy litigation and logistics problems of a green field construction.

Nippon Steel doesn't want the outdated , inefficient plant. They want the site and all of the site approvals that go with it.

Last point, there is a lot of criticism of foreign ownership of a vital strategic industry, but remember it will always stay in the US and provide jobs and material for US industry. You can't just pack up a steel plant and take it home with you.

gary

This is a weaponise political decision design for massive layoff in the Steel and Auto industries during Trump term in office.

The president in an orange cape to the rescue. The "friend" of the American worker and darling of the capitalist class will "fix" it.

Yers Japan is a solid and reliable ally for the U.S and the west, BUT after watching what happened in S. Korea NOTHING can be guaranteed anymore.

I would say like this:

The US is a solid and reliable ally for Japan and Europe BUT after watching what happened with trump NOTHING can be guaranteed anymore.

As you all know, Nippon Steel’s China holdings threatens to add another complication to the transaction.

America is smart not to sell.

LOL?

Robyn Patterson, a White House spokesperson said in a statement defending the president’s decision that “a committee of national security and trade experts determined this acquisition would create risk for American national security.”

This is an obvious outright lie. If it were true, the CFIS would have killed the deal, end of story. The same article says;

..the Committee on Foreign Investment in the United States, known as CFIUS, failed to reach consensus on possible national security risks last month.

They don't want to be saved.. 

Keep sinking themselves.. 

LOL

Their country, their choice. LOOOOOOL!

This is how US treat the most loyal and vital ally in the pacific for 80 years ?

Loyal ally? Really...

McCall had long questioned Nippon Steel’s status as an honest broker for U.S. national trade interests and called Nippon Steel a “serial trade cheater” that had, for decades, undermined the domestic steel industry by dumping its products into U.S. markets.

The U.S. and EU placed anti-dumping measures against Japan’s hot rolled steel. The WTO panel ruled against the U.S. in dumping actions against Japan. This is in the early 90’s.

The U.S. has since declined from losing competition against Japan Steel to resisting buyout by Japan.