Why the U.S. Steel sale is generating controversy

[@onenikkione]

The outrage should be directed to members of Congress making millions for insider-trading.

[@Strideo1]

Yep. Congress has a better average return on their investments than Warren Buffet and they can use their insider information with impunity. There needs to be insider stock trading regulations for Congress.

[@brybryguy6314]

It really doesn't matter at this point. We haven't made steel in decades after the collapse of the industry in the US. We make some but alot of it are being contracted with the federal government anyways.

[@MrLuffy9131]

But people don't care and pay taxes like good little people lol

[@RickJanson-t5j]

@@MrLuffy9131people gotta pay taxes otherwise I won’t get my disability from the VA 😂

[@_.F0X._]

​@MrLuffy9131 but not you mr luffy, you make sure the government dont get your tax money 😉

[@redluck01]

If you do not like it, pay more than Nippon Steel. The company must accept the best offer.

[@matzrat5006]

and its a damn good company and a damn good offer.

[@maxdaly8185]

America needs productive strategic partners, and Japan is an excellent one, there’s a lot our countries can learn from each other.

[@benp439]

This is probably a great chance for our countries, being strong allies, to compete with China's steel industry.

[@braveheartz263]

Yes, and if America sells US Steel to Japan they should have to sell back it back to America only?

[@savoirfaire8979]

@@braveheartz263Should US Steel have only sold to a single country before Japan bought it? That would make zero business sense.

[@Just_Johnnie]

There are products that must be produced locally. What will happen if the trades are interrupted in an emergency? Globalization only works in an ideal world, and our world is far from ideal.

[@fordmud]

US steel needed a major remodel. Too much garbage plate and quality control problems. And If Japan wants to buy it, thats great. The Japanese generally have great manufacturing and could improve the quality of the products immensely. A hell of a lot better than if China or India tried to buy it.

[@damham5689]

Back in the 1980s when Nippon bought National Steel they honored the US unions and workers benefits the entire time they owned it. It wasnt until for some dumb reason in the late 90s when Nippon hired executives from US steel to run National Steel, did corruption and finally bankruptcy and closure happen. I hope if Nippon does buy US steel they remove the current US steel exceutive you have driven US steel into the ground.

[@kevinjenner9502]

Kaizen!

[@burprobrox9134]

And put the name back on the steel building

[@virgilflowers6959]

The pentions were under funded pbgc took the pentions over,

[@csopelario]

Exactly, if anything, this is an upgrade for US steel workers -_-

[@volvo8938]

Imagine the US blocking the sale of your company becasue they deem it a national security interest but all the policies they have passed over the decade has made your company a fraction of what it used to be, you cant have it both ways. If they are going to block the sale then they need to buy it themselves if its so important

[@joeybleu66]

X would have no competition when they change the stock symbol.

[@derickchristensen3219]

Thats what they call "communism"😂

[@brianblithe2271]

Just wait until Americas people care enough to look at actual and factual numbers. Even if it keeps up the heartless abandon, non reality realization, and extreme ignorance, It will still collapse.

[@nicmainville9954]

Leave the Communism to Russia and China, nothing good comes from a government owning companies.

[@fightsports66]

Japan buying a company is a threat to national security? Oh yeah, Japan is planning a military attack as we speak.

[@CleverNameBot13]

As a lifelong Pittsburgher, I think this horse left the barn 40 years ago, for the most part. Grew up with neighbors and friends who worked at the mills. I could sometimes smell the coke ovens from the Clairton Works in the morning. Lots of folks had to move from PA to find work in the 70s and 80s when most of the mills shut down. For the most part, steel’s been mostly gone from Western PA for decades. It’s a mere shadow of what it was for almost half a century. Check out the book “And the Wolf Finally Came” for more information on the history of the decline of the American steel industry.

[@alliwishis_2]

But it doesn't actually mean to sell the operation and to sell the Maine state of the business to some type of foreign entity is that when it comes down to a need for that particular industry we have no say so

[@22Zandy]

@alliwishis_2 I’m a little confused by the wording this comment can you clarify?

[@jamesalles139]

where was Brandon when the mills went to chyna

[@steelcityspeedshopj.r6942]

Yeah true. But just a little factoid for a “fellow Pittsburgher” US Steel. Specifically the Edgar Thomson plant . Is responsible for 93% of the steel made bought and sold within the US . Yes it used to be much much more . Say 93% of the world’s steel came out of the Mon Valley. The writing was on the wall long ago. But I just want to make sure you have the correct statistics before u start leaning on the side. Of well who cares . It’s a big deal. It’s a Really Big Deal

[@User-gfys-0icu81]

@@jamesalles139wow. You really are in a cult.

[@johncran-m6g]

I understand the concerns about this purchase of the steel mill. What about the purchasing of other American companies to China owned companies as Tyson foods? The Arabians in Arizona??

[@MikeHunt2053]

Smithfield as well

[@hera7884]

I would be far more upset if they were selling it to China or Iran. Japan is our ally and also our eyes into Asia, we need them as they act as a satellite-state for China. Basically, we use Japan to spy on China, but what does Japan get out of it? This is one of those symbiotic relationships where two different species help each other. South Korea too, but Japan is more fun than South Korea.

[@kevinjenner9502]

The last three Governors of Okinawa have run on a platform of complete removal of US Military.

[@iridefast1]

Japan gets security.

[@wut3358]

Japanese is a different species?

[@natoslayer2907]

​@@iridefast1 actually Japan is less secure allying itself with the US and making themselves the primary war front if it happens. They would be the most secure if they become a neutral state like Switzerland.

[@bigmedge]

@@natoslayer2907 that's an absurd take given the aggressive governments in China & NK who have a huge historical disdain for Japan

[@fredwood1490]

Considering that the largest oil refinery in the US was sold to a Saudi billionaire a few years ago, without protest from the Government, a defunct steel company shouldn't represent much of a national defense problem either. America produces specialized metal products nowadays, rather than bulk steel but, with the US cutting ties with much of the rest of the world, (According to Peter Zeihan), we might revitalize the rust belt yet.

[@thomaskim3128]

If it was a British or Israeli company buying US Steel there wouldn’t be any controversy.

[@anonymousguy6928]

Japan is one of our closest allies. Why would there be controversy for them but not the UK or Israel? I think any foreign company buying US Steel would start controversy.

[@suyogv8235]

@@anonymousguy6928probably racism (fears of an “asian takeover” like what happened toward Japan in the 80s and now China in the modern day)

[@OGHiddenpaw]

It’s mostly because all the subsidies and tax breaks will go to Japan. The governor and cabinet probably won’t get a kickback anymore.

[@serafinacosta7118]

Yup. They come out , palm up, looking for a handout.

[@Foofrarf23]

Everything is being outsourced but at least this time it's a Japanese company and not a Chinese company that's buying our steel.

[@Foofrarf23]

@ndukasmith no matter where it's made, I would still buy it.

[@kylekauffman7771]

If the Chinese want it all they got to do is call the big guy...

[@MalcolmRose-l3b]

The only American offer on the table was about $7Bn. Nippon offered more than twice that. The "national security" fears are a crock - the Japanese are American allies and see America as a growth market in the future as it "builds back better" (or at least does some basic maintenance after 40 years of under investment in infrastructure). You don't spend almost $15bn and then shut everything down.

[@iridefast1]

It won’t shut down but the American Union jobs will be lost. Lucky there’s millions coming in over the southern border who will work dirt cheap.

[@TRAVIESO_NA]

imagine if all the money biden has been giving to ukraine and now Israel and Now the immigrants we could havee bailed out the US steel company, proved that big tech doiesnt want to invest in america. APPLE COULD buy that easy, Elon also. Elon should buy it. He bought TWITTER

[@markwilliams4525]

​@iridefast1 the American union workers are their own worst enemy

[@tspot816]

@@markwilliams4525True about the unions. But CEOs and Boards are also not interested in protecting American industry or workers. I hope the Japanese can provide crucial leadership and reinvigorate this industry in the USA.

[@sethdickson94]

@@iridefast1the Japanese said current union and union contracts can remain in place.

[@tnnsboy18]

Greedy CEO's will sell out America

[@sewerrat883]

Made in China 😂

[@slowbro1337]

Don't fully blame the CEO for executing their fiduciary responsibilites. Blame the politicians who threw their constituents under a bus without your vote on the matter to give human rights to corporations and make them part of the political game with Citizens United granting them near unlimited influence in American politics

[@LS1056]

​@slowbro1337 I blame ceos for encouraging the thought. At one time ceos didn't make as much as they do now. Now look? Also, welcome to capitalism, fish eats fish

[@TheWizardGamez]

Sell out America? Dude. The plant isn’t moving. There’ll probably be some downsizing but it’s needed

[@ocabj]

And yet lawmakers didn't have a problem when Vista Outdoors sold all their ammo component manufacturing to a Czech holding company.

[@mattdee9296]

Except that hasn’t happened

[@SCHMALLZZZ]

Make your own ammo dude.

[@ocabj]

@@SCHMALLZZZ Vista owned CCI and Federal, two primer manufacturers.

[@christopho3255]

Yet the legal framework of holding companies and multinational corporations has been heavily lobbied and supported through congress for decades because buisinesses could increase profits massively with outsourcing labor and manufacturing. The future of American manufacturing was sold out long ago. The government has its own ammo contracts. All the companies under Vista are only worth about 1.91 billion.... That's business. No American company offered a better deal. You should have been reloading.

[@sioux22]

Japan is US's ally and their acquisitions have improved the functioning of american companies on numerous occasions. I see nothing wrong with that.

[@bobtrask2217]

I always associated US Steel with the US for some reason....Huh?

[@harveyhernandez6619]

The worst that can happen is innovation, lower CEO pay, and a company that values workers

[@JogBird]

uss isnt competitive.. the highest grade steel is imported from germany

[@MrWhitmen1981]

Good I let the construction crews know when they just want to set out a basic pillar or base block.

[@happytrails1963]

possibly we buy much steel from china because of price, not judging

[@johnsmith99997]

@tlcooper2.0-ky5vh US steel has 8 billion in tangible assets and the highest US bid was 7 billion... doesnt take a genius

[@maxswagcaster5315]

Isn’t Japan supposed to be one of our Allies? If we don’t swoop in and save the plants ourselves we should at least let our own Allies buy it especially if we already have people from hostile nations like China buy farmland and real estate here, I’d rather have friendly nations like Japan buying our steel plants than China

[@nd715]

Ally for now, is that permanent?

[@matzrat5006]

@@nd715 oh god. not another conspiracy .

[@mitsuyamaeda-sub]

As a Japanese person, I would like to see something like the Goldman Sachs and Toshiba cases be prevented before they happen again.

[@serafinacosta7118]

Yup. I remember the Toshiba sabotage. It was about flat screens. They made a big hoopla about the “Japanese takeover of our flat screen market”. So they purposely found ways to sandbag Toshiba. I owned once a Toshiba laptop. One of the best I had.

[@sucatash57]

Like my dad used to say "why would a country want to fight us in a war, rhe whole country is for sale, a lot safer and probably just as cheap

[@Nicklan1961]

Well if they become a part of Nippon they become part of one of the top steel companies in the world and mite be able to compete with the Chinese.

[@shawnathon60]

Selling America,, one piece at a time!

[@mitsuyamaeda-sub]

In the end, the United States will still monitor Nippon Steel, so I think it will be the same as the United States absorbing Japanese companies.

[@mistermood4164]

America has already been sold off

[@serafinacosta7118]

Don’t blame the foreign powers. Blame your business leaders for loading American companies with debt. This is what stock buy back programs did.

[@LS1056]

Funny you say selling America but that's capitalism, that we encourage. Capitalism when it's us is fine, but moment that a US company gets bought, you want it protected?

[@uA-gy8wk]

アメリカには国を売る自由まであるのか!

[@SnowTiger45]

Automation had a significant effect on employment but it also improved Worker Safety at the same time which was why automation was/is important. But the US has sold technology all over the world and hired foreign countries to manufacture just about everything. That lead to the fall of most manufacturing in North America and That's a FACT.

[@derickchristensen3219]

That and most people are no longer willing to do those jobs.

[@nicmainville9954]

Producing products in other countries is the only reason the US has cheap and convenient products and wide range of the same products to choose from, if the US starts producing most of it's own goods you know damn well the increased cost of labor will be passed on to the consumer because the greedy investors need their cut of everything before or after it's sold to the average consumer(the real driving force of an economy).

[@kgill5]

In Eastern thought, in every crisis, there is opportunity. Look at what our Japanese allies taught us about making quality automobiles. American automobile manufacturers had to improve due to the competition. We Americans should not fear letting go an industry run into the ground, we should embrace the chance to reinvent a better American steel industry.

[@MrLandslide84]

When Bill let China into the WTO. It's been super downhill after that. Rapid. I remember before it happened.

[@nicmainville9954]

@@MrLandslide84 do you think it was just Bill that did that, without any Republican assistance? I love how right wingers mindlessly think the Democrats have more power than the Republicans do, it's like they've become so stupid they forgot that it takes approval from both Republicans and Democrats in a republic

[@robmerrill3460]

Lawmakers arent getting their kickbacks so naturally they are against whatever deal comes about.

[@Nock-d9n]

why are you upset that the world's 4th steel company buys the 27th one? it's really natural💀

[@山下清-n9z]

America likes "Free Trade" but does not like Nippon buying US Steel :)

[@rickstevenson9585]

This isn’t a national security threat. Japan is essentially a US protectorate (no offense meant, just that the US is obligated to go to war if Japan is attacked). Not to mention the US is going to be one of if not the the biggest foreign export markets for the foreseeable future. Japan and the US both are mutually incentivized to work together.

[@Abuzwebstar]

Why is Japan a US protectorate? How is the USA obligated to fight for Japan? Would you send your children to Japan to fight and protect it? How would you feel if your child dies protecting a foreign country?

[@rickstevenson9585]

@@Abuzwebstar how? After WW2 ended the US forced Japan to demilitarize and in return the US agreed to defend Japan. The treaty is still in effect today. Doesn’t really matter what I think, if there’s a major war and they start drafting men to go to war then it doesn’t matter what my opinion is.

[@Abuzwebstar]

@@rickstevenson9585 so you don't care being drafted to go fight and die for a foreign country? America defeated the Japanese by dropping nuclear bombs on them even though the war ended and they were about to surrender. So are you saying after America defeated Japan they took control of it and now defending it from threats? Isn't Japan a sovereign nation? Why does it need another country to protect it? Which treaty are you talking about and where did the Americans agree to this?

[@rickstevenson9585]

@@Abuzwebstar I mean yea I care as much as I’d prefer not to die, but I’m also not going to be a coward running for Canada. If I get called up there’s nothing I can do about it as I’m not the son of some billionaire. As far as what treaty, it’s called the Treaty of Mutual Cooperation and Security signed by the US in 1960. It’s all well documented in the history books, or do a quick google search if you don’t believe me.

[@Abuzwebstar]

@@rickstevenson9585 Japan was occupied and administered by the victorious Allies of World War II from the surrender of the Empire of Japan on September 2, 1945 at the end of the Second World War until the Treaty of San Francisco took effect on April 28, 1952. The occupation, led by the American military with support from the British Commonwealth and under the supervision of the Far Eastern Commission, involved a total of nearly one million Allied soldiers.[1] The occupation was overseen by the U.S. General Douglas MacArthur, who was appointed Supreme Commander for the Allied Powers by the U.S. President Harry S. Truman; MacArthur was succeeded as supreme commander by General Matthew Ridgway in 1951. Unlike in the occupation of Germany and the occupation of Austria, the Soviet Union had little to no influence over the occupation of Japan, declining to participate because it did not want to place Soviet troops under MacArthur's direct command.

[@mattygee5000]

Meanwhile nobody said a word when Chinese interests purchased the third largest meat processor in the country.

[@fightsports66]

Because it was not an election year when that happened. The politicians in Pennsylvania who say they will block this (which they don’t have the authority to do) are just looking for votes.

[@repairdrive]

Truth is they've been aloud to slowly sell off parts of these companies for years. Rust belt wouldn't be so messed up otherwise.

[@Strideo1]

They've been aloud? I thought maybe they'd be doing it quietly to make sure they're allowed to do so.

[@HikerBiker]

Greed, greed, and more greed, that's all american corporations know.

[@MalcolmRose-l3b]

So if you were selling your bike and one guy offered twice the amount that another did you'd take the smaller offer?

[@TheeRedBaron]

Unfortunately alot of regulations and unions have made us uncompetitive. Bethlehem steel suffered the same fate. Although we still should block this.

[@PainandMotivation]

And you do not want to be rich one day? You want to work for someone that is poor? I never heard of anyone working for someone that has no money. Keep making excuses.

[@Madame702]

I think case it not just Greed, US Steel needs injection of investment for new technologies.

[@MalcolmRose-l3b]

@@Madame702 The management are legally obliged to take the best offer for their shareholders - a low-ball $7Bn is clearly not as beneficial as $14.9Bn. If the belly-achers on here want to change things let them lobby their congressmen to change the law to oblige management to take other interests into account - and then watch everyone criticise them for being "socialist" and "un-American" and "Bernie Sanders"

[@JovenAlbarida]

Much better to deal with Japanese Not to Chinese

[@0326Hambone]

Japan is one of closest allies, and they make better products and do better business that Americans. I see this as a big plus!

[@donniemoder1466]

Steelers can change their name to the Rising Suns.

[@danielcadnum7214]

I’m from a Cleveland suburb and I think that’s a good idea. Maybe the Browns might win now. 😮

[@lokesh303101]

There's nothing wrong with the purchase as they bring new methods of finances for the Steel Industry and a set of New Generation Manufacturing Processes for USA 🇺🇲. I wish Senators do approve the purchase for Building USA.

[@glenm5034]

Hope the US steelworkers reconsider who they vote for in 2024

[@BlackCatAlley23]

Great! Outsourcing another company. America is falling! And fast!

[@matzrat5006]

Why block it, Nippon will bring the place back to being solvent.

[@americanminotaur2518]

However the government decides to handle this, it is important for us to remember that Japan is our friend. If we have security concerns we need to communicate those to the Japanese in a way that’s respectful and not accusatory. The last thing we want to do is act rashly, and potentially damage an important strategic partnership.

[@charlesc870]

Brandon should be court martialed for allowing this to happen.

[@kylekauffman7771]

He's getting his 10%

[@grantjohnston6152]

Listen, I am a liberal, I believe in a global economy, I believe in capitalism and the open market BUT... despite whatever past regimes have enacted on the steel industry, this is something that just shouldn't happen. This has nothing to do with patriotism or nationalism, this has to do with maintaining the supply chain plain and simple. For the sake of future generations, let's not sell off one of our major raw material supply chains.

[@Sonormuseum]

The biggest reason US industry has faded away is their concentration on short term profit vs. long term viability. Plants need to be modernized to remain competitive, but that takes investment. Traditionally, management has taken profits and stuck them in theirs and shareholders pockets as opposed to reinvesting. This isn’t just the steel industry, it’s across the board. Look at any American manufacturer who has faded away and you’ll see poor management, lousy marketing decisions, a lack of forward thinking, no modernization and little reinvestment.

[@douglee4268]

This reporting seemed fair and balanced. Not tilted at all...

[@takosdon7754]

What are the reasons for those who oppose this M&A? Is it because their pride will be hurt by being under the umbrella of a foreign capital? If so, it is a laughably ridiculous reason.

[@markwerfel5537]

His comments differ from what I've been told elsewhere -- please fact-check.

[@noel6058]

There is nothing of a better quality than U.S. / Japanese steel.

[@matzrat5006]

German steel is pretty damn good. but you are right, Japanese / US steel would be on par with any really good steel.

[@smithwilliam6837]

Hey mister Senator Mr Congressman Mr newsman let him buy it boycotted build your own steel mill go up to Minnesota and build a steel mill on top of the the iron ore up there in Minnesota in the Iron Range and then produce the finest steel known to man don't buy foreign Steel it at the highest prices of that you can

[@alz750]

Japanese steel industry leaders have played the long game, since at least the 1980s, to do this deal.

[@who2u333]

Why is is generating 'political' controversy? Because is can. That is all that is needed anymore.

[@toogie6267]

Potentially good news to open up American industry. The part about other countries being involved is worrying....

[@JayYoung-ro3vu]

Boards of directors and shareholders chase the almighty money, no matter where from it comes.

[@jacobmcculley9411]

Just nationalize the plant if it’s that important.

[@alelectric2767]

They would love it if were China thou wouldn’t they.

[@slowbro1337]

I see no issues as they are strong allies.

[@KaiserBlade]

Pearl Harbor was great. Right slow?

[@slowbro1337]

@KaiserBlade You are aware it's not December 1941, right? While the atrocities of the past were awful, both sides have reconciled differences and now are strong allies with good economic ties to each other. Also, as awful as the attack of Pear Harbor was, it was the action that brought America into the war and eventually led to the strengthening and growth of the American economy, and scientific sectors leading it to be one of the world's strongest super powers along with ensuring the defeat of the axis powers. If that was too much info to handle for you too quickly, I do sincerely apologize for the mental discomfort it may have caused you.

[@peterpalmer9757]

@@KaiserBladeyou realize how much Japan has changed

[@KaiserBlade]

@@slowbro1337My father has four bronze stars for fighting Japan in the South Seas he was a survivor of Pelileu. You think YOU told me something? Really?

[@matzrat5006]

@@KaiserBlade you aren't your father. My father fought the Nazi's and yet i'd buy a Porsche in a heart beat over a Chev and so would you.

[@gregegg-ef1kl]

Thanks Reagan

[@kylekauffman7771]

Thank the big guy...

[@connor_flanigan]

the employees went on strike in the 1950s and permanently crippled US Steel and they never recovered.

[@Scrapy-ih7ob]

"You don't spend almost $15bn and then shut everything down." you do if want Cripple a nation withing its own border's. / When you got unlimited amount funds that can hurt the market and influence your own. then 15b is like 15.00 bucks to them

[@oneanddonetzone3673]

On the upside bringing in fresh blood and innovation can never be a bad thing. I wonder how many times things have been blocked by the unions it would’ve made for better efficiency and cost saving initiatives. The Japanese have a reputation of efficiency.No doubt the unions and with their Democrat partners are worried about this move.

[@kylekauffman7771]

Right, if unions had their way we would still be using steam engines lol

[@CindySorenson-r4m]

I trust Japan to run it. Japan is a trusted ally. I don't see anything wrong with the sale. Japan never said it intended on replacing anyone, just ownership. I don't believe that US Steel is America's last operational steel plant like some are suggesting. Japan has a long history of being able to come in & effectively turn around troubled American companies back into the profit-zone. I think the higher-ups in Washington might have asked Japan to step in.

[@2mcna2]

Let them have that dying legacy. they can make YKK Zippers, cause for some reason all zippers come from Japan 8D

[@Ausblack]

If they can bring the same culture from japan into the workplace, they would probably be better off.

[@richardhemenway7528]

Of course they don't want an alley like Japan to buy it,they would rather have it set idle or sell to 🇨🇳

[@MC-de6tf]

It is always about the money, America is for sale to the highest bidder. It would be better all around for Japan to own the steel company than any other country.

[@felipenunez2058]

😂😂. Its called capitalism my boy.

[@MC-de6tf]

It is called the love of money and Capitalism had nothing to do with it.@@felipenunez2058

[@SpeedChaser1]

America is being sold of bit by bit. We will not have a country here in the short future. It seems like everyone hates America anymore. I will be praying for this country and hopefully you all do too. God bless America

[@lindo110]

US aint worth much anymore. nice try tho

[@Lyndanet]

I’m worried for the workers and their families.

[@TRAVIESO_NA]

That's isnt even the problem, i feel you tho. those people are disposable as we all are. the issue is america selling off its resources to foreign country's

[@frankgrabasse4642]

You should be far more worried about wall st buying it. They would destroy the company just like all the others they get.

[@lindo110]

you should have been worried over the last 30 yrs.

[@traderdan85]

Too late ..

[@ricknaegele2144]

Keep it American.

[@jolee6531]

What's to stop them from selling to China?

[@matzrat5006]

They would have to get permission and im pretty sure its a non starter.

[@kylekauffman7771]

The big guy will set it up for them...

[@realtruth172]

this is the results of 80 years of unions if they are so good what in the world are you comparing them to ?

[@mustafaa965]

This is a bad idea.

[@jessejamez5985]

Nippon = Japanese in spoken Japanese. So the headline actually reads Japans Japan Steel.

[@RobertPahlavi-ko4gj]

We will build Boats , not tanks. We will build Robots 🤖, not bombs. We will build LASERS, and Put our Diamonds to better use. #stanley #stanleySteamer #iam #Dayton Pray for TITANIUM SHAFTS AND BEARING HOUSINGS 🙏 #blackrock #blackstone

[@chillxxx241]

The committee is concerned about “enemies” of the US. These currently include China, Iran, and Russia.

[@pains4109]

What's happened to America

[@lindo110]

lazy workers and corporate greed.

[@tjord]

@@lindo110 correct, except for the first part

[@billybobjoephil]

Capitalism

[@MK-ng3ir]

CEO-to-worker compensation ratio reached 344-to-1 in 2022 in US, Wall Street is 400-to-1. Japan only 50-to-1. Which one is better for union members?

[@georgemaximus694]

The good old American way was what built the America 🇺🇸 we have today. Let’s not lose that mentality.

[@brianbloomfield4384]

Who remembers the last country to buy this much this fast this hush hush 👁️👁️🇺🇸👁️💡👁️🇺🇸🇺🇸🇺🇸🇺🇸👃💩

[@creekwalker62]

It should be re-named Japan Steel now.😮

[@Slowcarfastbeans]

That’s the same as rebadging it Nippon Steel after the parent company if it is purchased.

[@matzrat5006]

@@Slowcarfastbeans Nippon Steel is a great company, name sounds good.

[@Slowcarfastbeans]

My point is that Nippon is the same as Japan. It’s the romanized version, and in romaji, it’s Nihon. Is this lost on everyone or is the joke on me? So confused. 😐

[@HeronPoint2021]

JAPAN is necessary for America's defence. And Canada's. Chill out; the world has arrived at your door. You could do a LOT worse.

[@Just_Johnnie]

If the government can subsidize the car companies, why can’t the government subsidize companies such as US Steel?

[@iridefast1]

Bidenomics in action.

[@Nik-ik8mv]

Make nothing, own nothing and still "wealthy". It's shame that how little most Americans know about foreign countries, their economic histories, practices, or basically anything about them, yet whenever any strategic or major devision is made in America, Americans are asked to give opinion on that according to some basic preindoctrinations of "free trade", "captalism", or "globalization" as if any one of those things exists truly or US or its trading partners practice that or not.

[@chiquita683]

Minimum wage is always $0. Thank a Union

[@CAC6363]

What dis that even mean? I’m in a union and make more than minimum wage… you ok?… lmao

[@hayz9338]

Wow, way to go capitalism, until it’s not in US interest lol It’s Japan for god sake, not China🙄

[@toddsholtis4470]

Japan is an ally of the United States. What percent of steel products does US Steel make for domestic companies (what are the sales?)? What is US Steels export sales per year? Hmm...Unions are bad for US companies, always have been.

[@JessicaJohnson-mv7lb]

Might as well sell. Been selling USA down river for years. Under Trump Saudis bought our largest refinery on us soil. Did anybody blink an eye?

[@lamars2486]

The outrage over "forgien owned" is laughable, we started letting that happen in the early 1980s, lets not talk about the top secret bimb scopes we let the comm chinese make after 911 😂😂😂 please

[@thomasreeter583]

The problem with japan is they don't put up with woke policies!

[@dohminkonoha3200]

Then Nippon Steel can sell made in USA steel to US govt.

[@iceman9678]

Fact is steel and raw materials are much cheaper overseas (China/India). The USA and western economies can't compete and it's not even close.

[@xletzyy]

All of this cause they literally don't want to pay a living wage in the USA😂😂 They rather move the work overseas than pay us😂😂

[@Marvin-ut4xs]

If all of the jobs keep going overseas wth will American ppl be doing ; making podcasts? That and slanging rocks seems like the only things that will be on going

[@PaulPaulisich]

Iron and steel are not strategic msterials. They are some of the most abundant . I think the unions are worried because they may have to work. A joke here on the iron range of mn: how many worked at this mine ? Answer: about half!!!! Think about it.

[@Quitabigsnake]

Might as well sell it to Japan before Trump gives it to Russia.

[@yanktackle4472]

Hey look, it's that reporter guy that cried tears on TV when Trump won the first time 😅😂

[@lamars2486]

KZbin WHY ARE YOU DELETING MY COMMENTS??? FIX YOUR AI

[@Lil_Affelito]

Just look at american automobile sector like GM and other old big brands, same history in making

[@Stargazzer811]

This is about pride more than anything. US Steel is the oldest steel organization in the country, steel made it its mills helped produce ships, tanks and guns that contributed to 1 world war and won a 2nd one. This has zero to do with national security and everything to do with national pride.

[@scottford8736]

Keep US Steel US is the way it should be for national security