U.S. panel allows Nippon Steel to resubmit buyout review request

That picture has to be damaging to the pride of Americans.

It's pretty simple, really.

Allow the takeover by Nippon Steel, who will modernise and save the Steel industry in the US, along with thousands of jobs. Or perish.

That picture has to be damaging to the pride of Americans.

Let's make Japan great again!

So it's not about "national security" then.

Japan needs to bring some brinksmanship to the deal.

say nippon steel is going to step back and reconsider, considering the good faith offer is being met with a cloud that japan is not a trusted partner.

let them hang for awhile as the u.s. steel value drops. and drops. and drops.

no one else is going to buy it. only nippon steel can modernize and keep it in business.

look how the corporate media push their agenda

Former President Donald Trump, Harris' Republican rival for the White House, has said he will block the deal if elected.

was there really a need to slip Harris name into that sentence.

Harris' Republican rival for the White House. this is irrelevant

These politicians are playing with people livelihoods. They, both side know that the best out come is to allow the deal and squeeze Nippon for the best possible deal not to except the takeover will see these worker out of a job before Trump takes office.

Biden and Vice President Kamala Harris, the Democratic presidential nominee, have also said U.S. Steel should remain domestically owned.

But didn't say they will block it?

It's a tale of three steel industries - US, China and Japan.

One of these will have to go in a crowded Asia pacific-global marketplace. And it won't be the second country listed.

Surely, the US won't allow a strategic industry to be asset stripped, wound down, offshored and mothballed. Because that is what NSC wants to and will do in spite of their hollow promises.

Basically, US policy makers/blob/bean counters have to decide whether they want Japan's or the US's steel industry to go bust.

That's what this all about. NSC wants to make some room for itself to be relevant at the expense of USS.

the deal has become a highly political issue.

Kind of a redundant phrase, isn't it? To the USA, literally every single thing that happens is a political issue. Certainly seems that way from reading the comments on any given story.

That picture has to be damaging to the pride of Americans.

A steady paycheck trumps pride

Let's make Japan great again!

YES! Let's

So it's not about "national security" then.

It is when it's concerning AI and a military adversary

@JJE The U.S. top steel producing company Nucor Corporation, is only 15th on the list of top steel manufacturing companies worldwide! And the U.S. is currently ranked 4th behind China, India and Japan!

Mountainpear. Precisely. Forgot to mention India - thanks.

And that is what NSC is doing; essentially buying out a rival in an increasingly crowded Asia Pacific market, to guarantee future market share for themselves.

Tokyo intends to put the US steel industry out of business while saving their own. Don't be fooled by their promises to invest or 'save it'. This is naked self-interest and rising sun all over again.

Investment yet. Take over no.

not sure if it’s true but years back I was taught by a Japanese person the cause id WW2 and Japans attack on the USA was the direct retaliation of the USA steel no longer selling it to Japab causing Japan to attack. If true I can see why the power of steel and maintaining ownership is important for a country. Japanese can invest but I would say ownership must remain American.

Forget buying US steel. Build plants in Japan. Create jobs in Japan.

A total lack of Balls. Either block it or dont.

Not a good deal at all!

Any supporter of this deal.....Would Japan allow the US to purchase Nippon Steel?

Japan does not even want foreigners to be CEO of Japanese companies because of fear of doing better than their Japanese counterparts.

@リッチ Not steel! It was an oil embargo by the U.S. 80% of Japan's oil before World War 2 came from the U.S!

not sure if it’s true but years back I was taught by a Japanese person the cause id WW2 and Japans attack on the USA was the direct retaliation of the USA steel no longer selling it to Japab causing Japan to attack. If true I can see why the power of steel and maintaining ownership is important for a country. Japanese can invest but I would say ownership must remain American.

@リッチ Not steel! It was an oil embargo by the U.S. 80% of Japan's oil before World War 2 came from the U.S!

It was neither. Japan took what is now Indonesia from the Dutch and gained access to the oil reserves there. Japan knew that they would have to fight the US eventually if they wanted to fully control Asia. The Japanese wanted Guam and Philippines. Taking either would immediately lead to a war with the US. Japan knew the US could out build them given enough time and there was no way Japan could prevail over the long term. They also were aware the US Navy in particular had more tonnage laid down in their ship yards than they had in active service in 1940 early 1941. The Japanese made a calculated decision to attack and try to defeat the US fleet forcing them out of Guam, Philippines and Hawaii before those ships under construction could come on line. It wasn't an altogether bad plan and they had in most respects a clearly superior navy than the US had in 1941 but the US managed to outfight them, outsmart them (breaking their naval code in late May 1942 for example) and got supremely lucky at the Battle of Midway. If that battle had gone the other way Japan may very well have prevailed because the first of the new Essex Class aircraft carriers didn't arrive in the Pacific until May of 1943.

Forget buying US steel. Build plants in Japan. Create jobs in Japan.

After doing what you mentioned, Japan will need to bring in Vietnamese, Chinese, Philippines and other poor countries people to work in those factories because of labor shortage. Already most blue collar factories / companies in Japan do so under the technical training visa system. Even Amazon warehouses in Chiba, Kanagawa and Saitama areas have a good 50% plus foreign workers!

I say Better Japan than China.

Nippon Steel & Japan JFE get 60% of their Metalurgy coal from Australia and are commencing buying 30% of blackwater in QLD. They also get the majority of their iron ore from WA. Anyone with a brain can see that these material are better off get shipped into India where labour costs a very low. Once the agree grace time is up that 2.4 billion new blast furnaces will be mothball and sent to India. The USA Steel can not compete now let alone after the 5 years grace period is up. This penal should push for a few more year grace. But I assume the ball is in Nippon/JFE court. This why for the about face on the sale. Politician have nearly destroy the deal hence the new Penal decision to reopen negotiations.

Japan, the U.S, and Germany better start working side by side or else.

The Chinese auto industry is moving so fast to the point were it's hard comprehend, Chinese auto makers are taking over the Chinese market , Honda sales in China dropped 40% in June of this year, VW dropped 20%, Toyota dropped almost 11%, Mercedes and BMW 6 and 4% conse. and the onslaught is likely to continue.

Chinese EV automobiles are spreading so fast in South East Asia, Europe, South America North Africa, and the Middle East. Some experts believe that it wont be long for the Chinese brands to surpass Toyota sales if NOT already.

BYD the Chinese EV Auto brand will construct a new assembly plant in Mexico to penetrate the U.S. market according to experts, Bad news on all fronts.

Japanese ownership of US Steel does not pose a Security Threat.

What poses a Security Threat is blocking this acquistion for mistaken reasons, and letting US Steel be put out of business by the Chinese Steel Industry which presently dominates the global market.

When the grace period is over US steel jobs will be move offshore. I hope you American realise this. No deal. there will be no US steel by the time Trump takes office. That is the reality of the situation.

That picture has to be damaging to the pride of Americans.

Not to this American, it isn't. Japan is one of America's most trusted allies, and a Japanese company's ownership is far, far less of a security risk than allowing the Chinese steel industry to drive US Steel out of the market. That could hardly be more obvious...except to the slack-jawed reactionaries both US political parties are pandering to.

David K Anderson

Today 07:17 pm JST

That picture has to be damaging to the pride of Americans.

> Not to this American, it isn't. Japan is one of America's most trusted allies,

Evidently they're not