From a "Statement" attributed to President Biden.
January 3, 2025
"It is my solemn responsibility as President to ensure that, now and long into the future, America has a strong domestically owned and operated steel industry..."
"... that can continue to power our national sources of strength at home and abroad; and it is a fulfillment of that responsibility to block foreign ownership of this vital American company. U.S. Steel will remain a proud American company – one that’s American-owned, American-operated, by American union steelworkers – the best in the world."
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Why are you burying the lede that he just blocked the sale of us steel to a Japanese corporation? Sounds like something Trump would do, no?
He waited a long time to show responsibility. Those of us that follow mineral rights know the statement is BS.
How long before they file for bankruptcy?
The last raw iron smelter in the UK shut down last year. At least the air and water are cleaner in the West than they were.
My first thought is, I wonder how much Joe got for this.
"Solemn responsibility as President"
Oh for crying out loud....
Other way around, Howard.
US Steel will now have to close down a number of their locations and layoff thousands of employees. The sale to Nippon Steel was going to bring in needed investment towards plant improvements and modernizing equipment.
Trump opposes the deal as well...
Nice circular firing squad demonstration. USS received only two bids, Nippon at $15bn and Cliffs at $7bn. Naturally, the USW wants Cliffs so they can get a "longshoremen" deal and control all automotive steel production. If USS were smart, they should have handed everyone at Mon Valley, Granite City and Gary a WARN Notice last night. Approve the deal, or else. Then either Biden or Trump could play the savior.
Japan is our friend. China is killing our steel industry. Nippon promised to invest billions in the US and keep the HQ in PA. Heck, the union favored the deal.
Another wrong decision by Biden and his handlers. Joe is so fucking stupid.
Windmill powered blast furnace? Yeah, that's the ticket!
The globalists were in love with war, but now it turns out that nothing kicks globalism where it hurts like a world-wide war. So even their boy Joe, who all but wiped out US border controls on the behalf of the globalists, has to swallow the bitter pill that a country that simply ignores economic nationalism is bait for conquest.
Hey, if as Biden claims he could be President of the United States for another four years, why then couldn't he be president of a new, invigorated US Steel? Much in the manner of Elon Musk taking over Twitter!
Biden could assemble the necessary capital by enticing an investor group by offering his acumen and leadership. He could groom Hunter, the smartest man he knows, to succeed him.
Don't look for Joe Biden to reverse his decision to kill the Twin Metals mine though.
My comment was just eaten.
From a "Statement" attributed to President Biden.
Good one, Ann.
So now he's waving the USA flag and singing Yankee Doodle Dandy? This is the same Biden who laughed and clapped as millions of illegals poured across the border. And the same Biden who loves foreigners voting in our elections. And can't wait to shovel tens of Billions to Israel, Ukraine, or any place else. As long as its not the America. As for the American workers, Biden broke the Railway strike, and loves imported H-1Bs.
I suspect, this love of an American Steel industry has less to do with the American national security, and more to do with Biden getting a bribe from someone.
Another thing that this war has taught us is that the government needs to do what is necessary to keep strategic industries in the US viable. I believed the same thing when we let the HDTV industry leave the country, the chip industry, etc, and now we find out that sensor and chip tech ---drones, etc, are strategic.
In order to get shells for Ukraine, we just had to do a coup of sorts in our purported ally, South Korea, well our guy declared martial law, and then apparently released missiles to the war, as missile serial numbers showing up match those we sold to them. Also we suddenly have hundreds of thousands of artillery shells, which we certainly didn't make ourselves, and which S Korea had in abundance.
The point is that if we are going to maintain a global empire by military domination, which seems to be our plan, we need to have strategic depth in manufacturing. We can't go to war with China over markets and resources, for example, by starting out ordering 10,000 AD interceptors from China on Ali Baba. If this plan is going to work for us, we are going to have to have a "war economy," or we are toast from the get go.
Union opposes the deal as does Trump
"...and it is a fulfillment of that responsibility to block foreign ownership of this vital American company. U.S. Steel will remain a proud American company – one that’s American-owned, American-operated, by American union steelworkers – the best in the world."
How much have the contract agreements with the United Steelworkers increased the cost of doing business and what is their effect on competition? Add to that the cost of EPA and other regulations, and how does that compare with Chinese steel, some of which is funneled to the US via Canada?
So as per Biden (or whoever is animating his corpse), steel is vitally important for American defense but fossil fuels are unnecessary and should be curtailed. Got it.
Japan has one of the most protectionist economies in the world and a U.S. company would not be able to execute an acquisition of this type.
Looks as if Blogger is self moderating again ......
Good point - even if you believe it should be American-owned, operated and made, why must it be "union" rather than just an American worker.
I usually support workers having a voice in what happens to their business, but this shows what happens if it goes too far. US Steel remains a political symbol, nothing more. Definitely wise to bet against America in wars with "near peer" enemies, particularly if Japan is convinced they're not getting much from the alliance.
All those dead tanks and trucks and APCs in Ukraine, and nobody here to smelt them back into something useful. The job will go to a smelter in some third world country where the depleted uranium won't be considered a heavy metal health hazard. Or China, to repeat myself.
Moderation was turned on, I think. I caught a glimpse of an approval needed message when making an earlier comment. Probably due to the cleanup required in the comments on the first post today. Somebody's either off her meds or on a bender.
Trump, on day one, should sign an executive order making all of Biden's executive orders NULL AND VOID DUE TO BIDEN BEING SENILE.
And let the Democrats try to sue!
You can't see my face, but when I read "solemn" it looked like this guy's.
From 2017 ...
Which country produces the most steel?
China is far and away the world leader in steel production. In 2017, China produced 49.2 percent of the world's steel, with 831.7 million metric tons, WorldSteel reported.
Japan is the second-leading producer, adding 6.2 percent of the world's steel to the marketplace, followed by India, which produces 6 percent, according to WorldSteel.
Key facts about the US steel and aluminum industries (ABC News)
The US ranked 4th. A distant 4th.
Well the Japs ate his uncle, so…
Biden handlers hop on the Trump train.
You avoid a lot of social costs by keeping the factories open -- would be displaced workers keep on working and accruing pension funds. But it's amazing how the Magats will go to bat for the software engineers and doctors threatened by H1B visas but the software engineers and doctors tell the rest of the country to get lost when it comes to clamping down on the border and stoppping deindustrialization.
"100 new steel and iron mills?"
Really? There aren't enough mill builders in the world that can make that happen in 4 years. Who is engineering these mills? As an engineer who works directly in steel and aluminum mills this is a whole bunch of BS.
While I like to keep manufacturing in the US, I don't really care where the owners are. Indeed, Japan does an excellent job with their mills. Sell US Steel to Nippon.
"My solemn responsibility."
From one old gangster to another...
"We're bigger than US Steel."
This is a totally boneheaded move by either Biden or Trump, but Biden will be blamed. There’s no way any domestic bidder will protect the pensioners and future steel worker pensions. No massive capital investments coming. There’s no white knight here. I see bankruptcy looming now on the horizon. Moronic.
It takes 1 year to build a new tank and 5 to 7 years to build a warship. So we are not likely to need a huge amount of steel capacity unless we duplicate ww2. I think in modern war you fight with what you have, or can get someone else to give you. Buy from China to build tanks before the war starts, perhaps store some steel in some locations. Electric arc furnaces can be started up faster if we allow the production of electricity, we. Need to have a green war or we will all die of climate change.
@tommyesq, because union dues make their way back to the Party.
What are you smoking, exactly?
trump will flip on this just like twitter,Guarantted!
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