It is worth noting why this is an issue. The combination of lucrative union contracts, regulation, improvements in productivity, stagnant demand, and the rise of manufacturing prowess controlled by hostile nations have all combined to make heavy industrial manufacturing in America very difficult to make a profit. The union contracts and regulation lock American companies into a past that prevents them from adapting to the future. In this case, U.S. Steel is a vital American core business that must be kept on-shore. When war comes again on a large scale, we must be able to produce our own equipment and steel mills don’t spring up overnight.
WASHINGTON (AP) — President Joe Biden has voiced his opposition to Nippon Steel buying U.S. Steel, but the federal government appears to be in no hurry to block the deal.
White House officials earlier this month did not deny that the president would formally block the acquisition. But the necessary report from the government’s Committee on Foreign Investment in the United States has yet to be submitted to the White House.
“It’s their process — it’s independent,” White House press secretary Karine Jean-Pierre told reporters Friday. “We have to see the recommendation from CFIUS. That’s the process.”
Lucrative contracts………..yes, but as the Green Goddess bunch takes over, it’s more and more the regulations which cripple US manufacturers. The Feds, the States, and even the locals all have their “green” demands to go along with OSHA, FLSA, DEI, (practiced sub rosa and called EEOC), ERISA, etc., etc.–also duplicated with twists by every State.
Then there’s taxes………