US Steel, once the world’s largest corporation, agrees to sell itself to a Japanese company | CNN Business
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US Steel has agreed to be bought by NIppon Steel, Japan’s largest steelmaker, in a $14.1 billion deal.
  • gravitas_deficiency@sh.itjust.worksEnglish
    342·
    11 months ago

    I realize Japan is a close ally and all, but this shouldn’t be allowed to happen. Metallurgy and metal production expertise is a domain that the US needs to maintain full capability in, if for no other reason than national security (and there are a TON of other very good reasons).

    • Guido Mancipioni@lemmy.worldEnglish
      41·
      11 months ago

      It really is confusing. Last i knew we were spending billions to upgrade our ship building capacity, defense production infrastructure, and bringing home our manufacturing base to make our supply chains more resilient. This goes the opposite direction, so i don’t know how we’re letting this go down.

      Maybe they plan to keep manufacturing in the US just under Nippon leadership?

          • grayman@lemmy.worldEnglish
            1·
            11 months ago

            Maybe they plan to keep manufacturing in the US just under Nippon leadership?

            It was a sarcastic laugh. Zero chance Nippon gives a crap about the US. That’s not a jab at Nippon. That’s just the nature of any international corporation. There could be plenty of laws and contracts that prevent shenanigans, but ultimately all profit will go back to Japan. There is no scenario where foreign ownership of a company is better for the US than it being owned by US entities/people.

            The entirety of US leadership at every level seems dead set on selling off every asset that made this country independent and powerful. It’s a sad state of affairs that I can only laugh at out of disgust and sadness.