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© KYODOTrump vows to block Nippon Steel's acquisition of U.S. Steel if he's elected
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zibala
Prove it B!
wallace
bass4funk
Prove it!
bass4funk
Hogwash
OssanAmerica
"Nippon Steel’s acquisition of U.S. Steel would create the world’s second-largest steelmaker and a close competitor to China Baowu Steel in terms of production capacity, empowering America and its allies to counterbalance Chinese manufacturing"
Naturally all the CCP bots here are posting against it.
wallace
Trump prefers to sell it to China or Russia.
zibala
Trump vows to block Nippon Steel's acquisition of U.S. Steel if he's elected
American hero!
Peter14
No doubt Trump wants a deal with Russia or China, his buddies can take it over but not Japan.
If the worst comes to pass and he is somehow voted into office again, just wait and see. The real winners will be Russia, China and North Korea. The losers will be Americans and her allies.
HopeSpringsEternal
Expect Biden to KILL this merger ASAP, Trump's correctly weaponizing it for dividing Union vote, national security and economic reasons like supply chain resiliency.
That's if Biden survives and opts to run, MANY think he'll pull out in early Aug for health 'reasons', let DNC Super Delegates select...Likely M. Obama & VP Newsome!
OssanAmerica
According to critics, such a move is equivalent to the United States selling the Pentagon to the Japanese, when, in fact, it’s simply the smart move of a major company from a United States ally wanting to produce and sell more steel in America.
Link
U.S. Steel Acquisition Bolsters American Competition with China | The National Interest
Desert Tortoise
Jupiter is kind of late to the Nippon Steel bashing party. Probably half the members of both houses of the US Congress have expressed an interest in stopping the deal, and that opposition is decidedly bi-partisan. However nobody seems to be asking what legal grounds the US Congress would have to stop such a sale.
bass4funk
Dunno, 52 polls and only one that has Biden somewhat "even" with Trump, You can laugh, they laughed at Henry Ford as well.
bass4funk
Biden's policies seem to be outdoing Trump's
https://www.foxbusiness.com/markets/joe-biden-china-jobs-navarro
https://www.economist.com/leaders/2023/08/10/joe-bidens-china-strategy-is-not-working
Chico3
Here he is, showing us the ball. He is bad news and demented. There's been plenty of evidence of that. Those who vote for him, be careful of the bed you make.
indigo
Nippon steel has no place in US
Cephus
Regardless who is buying it. The steel industry is very sensitive due to the fact that a Nation depends on steel to defend itself. Therefore, the steel industry and the defense industry are augmented together. You can’t do away with one without the other.
HopeSpringsEternal
It's worth noting there is NO major company expanding its supply chains in China, ever since Trump companies have been re-shoring and near-shoring like crazy.
Good thing too given Covid and world we live in now. Merger's destined for dust heap for these reasons and US political calendar, Biden has to kill this deal, as he's bleeding support with unions relative to 2020.
Harder for Joe to fix his Kamala VP problem, unions hate her, don't think Joe's going to make 2029 let alone 2024!
HopeSpringsEternal
Wow, most recent comments accuse Trump of being lazy and defending China's unfair trade practices that Trump sanctioned. What in the world happened to reality?!?!
No wonder Biden supports do not believe there's High Prices, Inflation, Crime, Border & Global Chaos/War problem. Fortunately, many Union workers believe their lying eyes!
wallace
Trump's trade sanctions against China ended up costing the taxpayer billions in subsidies.
Jimizo
Getting a bit paranoid and hysterical there.
It’s reporting something the MAGA types have been told is a good thing.
He does have a track record of being too lazy and/or incompetent to do much about what he promises though.
HopeSpringsEternal
It's worth noting, Trump knows most if not all private sector labor unions are run be serious partisan d's. Trump's not really holding hope for an endorsement.
Trump's trying to up his union worker 'cut', 28% in 2020, wants double-digit increase. Trump will get it given HIGH PRICES & Interest Rates crushing these working folks.
This deal is political 'kryptonite" for Biden, seems serious Biz people in Tokyo want the old man put out to pasture!
HopeSpringsEternal
That's one view. Other's remember Nissan merger, all the new jobs and investment to reinvigorate.
Sad fact, there are no new Japanese global players, way behind in tech, digital, globalizing. Japan's become very poor, US GDP/capital, 2.33x higher than Japan in 2023.
aaronagstring
Well, he has to stand for something, right? Because at the moment, all he stands for is himself.
HopeSpringsEternal
Biden's going to have to kill this merger, too much political pressure, timing is everything.
But like his EV policies, Biden's shown his true colors, Unions lost Trust in "Working Class Joe, from Scranton PA". Biden's family with 20+ shell companies, taking big$ funds from foreign sources doesn't help either.
HopeSpringsEternal
Trump's going after union vote, traditional d stronghold. It smart politically to divide their support. He had about 28% of union vote in 2020, he'll be higher in Nov.
Unions not happy with Biden's EV and green policies mandates. Huge tax credit driven investments in new plant and equipment that's non-union based, especially in southeast. These plants compete with their union plants etc.
Speed
I guess Trump doesn't the people of Pennsylvannia to be able to keep their jobs. He still has the 80s mindset of battling Japan Inc. who he still sees as "the bad guys".
lincolnman
That's because he thinks Nikki Haley is the CEO...
Nibek32
Everyone knows trump will lose, so I just have to laugh when I see this kind of content.
marc laden
Here comes the tsunami of news ( intentionally negative) about Trump in left medias .... ha haha..
He is not yet elected as a candidate... But left medias are afraid of him.. even now..
What a pity for the left ????
yamada1043
The former Insurrectionist-in-Chief will not return to the White House … period!
TaiwanIsNotChina
Right, only the true love for Xi is real.
Sanjinosebleed
Not another 4 years of this guy!
TokyoLiving
The narcissistic and fake "patriotic" society of US are too blind to see this..
TokyoLiving
Not a surprise..
Coming from that narcissistic clown..
Gene Hennigh
Let me just say this about that. That this is an issue is that which is shallow. This Mr. Trump is that who is confused. This that he says is that that is funny if not sad. That this is his point, this is pointless.
TaiwanIsNotChina
I support the deal in principle but Nippon Steel should understand that it won't have any special ability to get rid of the union and also its supply chain will be watched like a hawk to make sure there is nothing Chinese controlled about it. I also don't know what would happen in the event of war with China. Presumably it is required to direct all US production to the US if directed to do so by the president.
proxy
It seems like a reasonable thing for a politician running for office to say.
TaiwanIsNotChina
Are you sure about that? The US is very popular and Japan is resistant to spending more on its own defense:
https://www.pewresearch.org/global/2022/06/22/international-public-opinion-of-the-u-s-remains-positive/
Clayton K. Char
What happened to the movement to bring back and/or keep strategic materials manufacturing in the U.S.?
Can it still be owned buy foreign interests or it has to be owned U.S. interests?
That is the question?
deanzaZZR
Japan going "all in" on US foreign policy will create quite the pickle when Trump starts his revenge tour January 2025.
Japan, the country and its people are wise enough to chart a fully independent path but Japanese politicians let the people down time and again.
ClippetyClop
I thought Republicans were in favor of free trade, letting the markets decide etc.
Why are they recently in favor of protectionist policies?
US steel is failing, and Japan can save it and save jobs.
Trump only cares about filling his ill-fitting trousers with money for his rubbish lawyers.
Jtsnose
. . . with headquarters in far distant Pittsburgh , . . . is it even in Japanese interest to make such an acquisition? . . .
ReasonandWisdomNippon
Japan is a democracy, and friend of USA. Japan employees millions of Americans already, factories and businesses on U.S. soil.
Dont treat Japan like you would China.
If a British company or European company tried to do the same thing in USA, they would face less challenges. This type of Japanese fear goes back to the late 80s and early 90s when Trump again was bashing Japan, spreading misinformation and fear mongering about Japan's rise.
JJE
Incorrectamundo. America has re-hired before.
https://en.wikipedia.org/wiki/Grover_Cleveland
Peter Neil
Smart idea. US Steel will continue its decline from decades long failure to invest in newer technology and eventually get a taxpayer bailout. Something all Americans support, right?
Nippon Steel deal would be all cash $15 billion and would revitalize US Steel. US Steel wants the deal, because they’re in the steel business and know it’s best for the company.
Fine, don’t sell it. Let it wither.
Trump is an expert in bankruptcy.
JJE
Trump has loudly signalled that he stands with America's steel workers, the manufacturing industry and blue collar workers - yet again. This is textbook MAGA.
The incumbent had every chance to state his opposition to this deal but didn't. Should he flip-flop now we all know it isn't genuine. His history of voting for NAFTA and every trade deal under the sun which sold out workers is a matter of public record.
At the very least they should let the rank and file vote before endorsing - unlike recent union bosses who didn't.
HopeSpringsEternal
Seems possible DNC could step in, convince Biden to step aside for health reasons. Nominate Michelle Obama with Gavin Newsome as VP. Happened in 1968, sitting Pres. Johnson pulled plug, but d's got crushed by Nixon.
Mark
Mr. Trump is set to take back the white house like it or not. he may not be the best choice but he is the best of the three we got. Hard to believe with all the talents America has we are only left with 3 to choose from and the rest are so far behind almost hopeless.
Gabriel Sheffield
Fortunately, he will not be returning to the presidency. His meeting with the Teamsters was a disaster and he is only propped up by 30% of his own party. America has never re-hired a president it fired.
HopeSpringsEternal
Seems many here like global chaos Biden's so perfectly orchestrated; inflation, wars, and greatest geo-political re-alignment post WWI with China, Russia, Iran, NK, BRICS, Global South including Muslims all de-dollarizing!
bass4funk
I agree 110%
Trump 2024
Stephen Chin
Make ! America ! SMALL ! Again!
By Getting RID ! Of donald trump!!
Moonraker
Well, except the Russians, whom he works for.
HopeSpringsEternal
Good point. Also don't forget US has issued in excess of $3 TRILLION in new Treasury notes, t-bills and bonds, SINCE AUG, or approx. 3X Japan's current holdings.
US like Japan, collapsing, another reason US voters so hungry to have Trump back, economic catalyst compared to inflation catalyst Biden's dirty special interest insiders orchestrated to drive up interest rates.
Trump's not going to foreigners run roughshod over US, Biden will, as he's bought paid for by the transnationals, US Steel, just more proof.
OssanAmerica
It is also very good for Japan because a strong US economy fuels a strong Japanese economy. Don't forget that the biggest US Debt holder is Japan. Not China.
HopeSpringsEternal
Steel is a good industry for Japan one must admit, no relation the digital connected world, very incremental, no consumer side, etc. Materials in general.
Yet it's political silly season, Trump's stepping in fray in order to damage Biden's union support...smart, that's why he's a billionaire and likely #47 if one believes in betting markets probabilities.
DanteKH
This is a power move by Japan over an poor managed US company that is the main engine of the US economy.
On long run is very good for Japan, since Japan is a very poor natural resources country.
u_s__reamer
Unless Garland's DOJ drops the ball, Trump won't have any say in future steel deals - he'll be too preoccupied with his own steel problems: the door of his cell and the bars on the window.
itsonlyrocknroll
I would suggest transparent open fair trade agreements between like minded democracies, nations, that protects essential utilities/sectors, energy. manufacturing, steelmakers. etc
This pandemic has cast a cloud over the so called advantages globalisation promised, crazy supply chains have proven to be a false economy.
I suggest - privately, more than would admit the Trump/Biden 2024 US election red or blue rumble, has provoked disenchantment, a distinct lack of confidence to a whole process that pits, two candidates, I will whisper are partly/whole unsuitable, still thats democracy.
Sometimes making sense is a challenge in itself.
HopeSpringsEternal
Nobody doubts what Trump says and he says what he means. One of his strong points for many supporters,
Trump's correctly targeting Union Voters, typical democrat strong hold, who are None Too Happy with Biden's EV and Green mandates it's worth noting.
Definitely National Security an issue, supply chain resilience etc. Can you imagine Nippon Steel being acquired? It'd never happen, just like this deal.
Expect Biden to block the acquisition soon.
garymalmgren
Income report on US Steel.
United States Steel net income for the twelve months ending September 30, 2023 was $1.149B, a 66.39% decline year-over-year.
Hmmm. That looks fine.
RE: Christopher Mas Osan
Must never ever be sold. American Steel should not be for sale ever.
So you are against even a (friendly) U.S. company stepping in and purchasing U.S. Steel?
Why?
Onlooker
A typical emotional appeal of a populist without any substance, nothing more than refusing the acquisition. Trump should be reminded of a big picture, i.e. the top 10 steel manufactures in the world, in terms of the volume of production, include 6 Chinese companies. Deploring this situation, by saying "So terrible", would be more suitable for someone who wants to be the US president.
OssanAmerica
As usual Trump catering to the low brow bluie collar crowd feeding on the usual nationalism and racism. His views on Japan are frozen in the 1980s. Trump proved during 2016-2020 that he is incapable to differentiating allies from adversaries. He almost wrecked NATO, and US Defence pacts with both Japan and South Korea. He either doesn't have the intellectual capacity to undrestand which countries would benefit from his actions. Or he does but he doesn't give a rat;s hindquarters about the United States and only about himself. I bet if Russia wanted to buy USS Trump would be praising the idea.
Wasabi
do you think he will read this if there are not pictures?
itsonlyrocknroll
At least hold off the rhetoric/electioneering until a full detailed report/oversight into potential national security risk/economic assessments into Nippon Steel's acquisition could have on medium/long term manufacture/ steelmaking sectors.
Christopher Mas Osan
I would have to agree with Trump or any other entity trying buy US Steel. Some American companies and assets for the preservation of the United States and our history. Must never ever be sold. American Steel should not be for sale ever.
Christopher Mas Osan
I would half to agree with Trump or any other entity trying buy US Steel. Some American companies and assets for the preservation on the United States and our history. Must never ever be sold. American Steel should not be for sale ever.
Alan Bogglesworth
The idiot is back
dagon
Following in the old 90's footsteps of Clinton, his chum.
https://www.cbsnews.com/news/clinton-warns-japan-on-steel/
The duopoly has nothing new to offer.
PTownsend
anything the serial prevaricator says on Wednesday can be contradicted by Thursday morning, or if his handlers and media sense some of his fellow elite establishment don't agree with what he had said, he could say "I never said that, and call it fake news. The failed former office holder has the communication skills of a child.
Fighto!
Nippon Steel would modernise and reinvigorate the moribund US Steel industry. More jobs, more exports.
Wasabi
He is still allowed to speak freely?
Legrande
Japan allowed Walmart to acquire Seiyu.
Mark
I wonder if Japan would allow a U.S. Steel to acquire Nippon Steel ? Just a Q?
Mark
Oops here he comes.