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You can't make it up
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Dominic Pino
@DominicJPino
The very same day the U.S. blocks the Nippon Steel acquisition due to "national security," the U.S. approved the sale of $3.6 billion worth of air-to-air missiles to Japan. x.com/scottlincicomeβ¦
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I just don't get the opposition. Can someone steelman Biden's real reasoning for blocking this deal (not the nat security claim)? And which parties of interest want this deal blocked?
Why was USW opposed? Seems like easy to buy off with better jobs from better more competitive plants
Thereβs a climate angle here too. US Steel uses blast furnaces and doesnβt have any plans to upgrade to electric furnaces that emit about 40% of the CO2.
With a little forethought the WH could probably get these included in the deal β or maybe even a hydrogen pilot. But no.
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Jason Hamby
@IPAzRGR8
Replying to @senatorshoshana
Opposing the Japanese, Biden really does think heβs FDRβ¦
Whatβs motivating then? Money, power, fame?
Why would he block this deal between Japan & US Steel?
So the Japanese can build cars and let Americans drive them domestically but they canβt create the inputs? Ridiculous reasoning.
China or Russia I can at least begin to understand opposing at least reflexively. Japan? SMH
Blaming this decision on a βnational security issueβ makes my blood boil. Glad you posted this. Japan is our ally and Nippon would have helped us compete against China. US Steel wonβt be around in 3-5 years.
Essentially, Biden's move to block the merger was simply another poorly conceived attempt to appeal to the nativist/xenophobic/racist segment in the US, to make him appear more 'pro-American.'
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Sourced from across X
"Do you want to know why free-market supporters are generally skeptical of national security arguments for government intervention in the economy? This is why."
Yep.
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Dominic Pino
@DominicJPino
The U.S. and Japan were "the closest of friends" when the Japanese prime minister visited Washington in April.
Today, the U.S. says Japanβs largest steel company is a national security threat.
New from me @NRO
nationalreview.com/2025/01/what-c
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Twitter has gone through a lot of changes but you can always count on people not to get the joke.
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Kyle Mann
@The_Kyle_Mann
Watched Casablanca for the first time. It was so cliche and uses all these tired lines and tropes that are in tons of other movies. Don't get the hype
The very same day the U.S. blocks the Nippon Steel acquisition due to "national security," the U.S. approved the sale of $3.6 billion worth of air-to-air missiles to Japan.
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Scott Lincicome
@scottlincicome
Here's the Nippon Steel order: whitehouse.gov/briefing-room/
Gotta love the mysterious, unstated "credible evidence"... that nobody actually believes.
Looking forward to the lawsuits.
We were never so wealthy as during the period before we had Electricity and Indoor Plumbing?
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Donald J. Trump
@realDonaldTrump
The Tariffs, and Tariffs alone, created this vast wealth for our Country. Then we switched over to Income Tax. We were never so wealthy as during this period. Tariffs will pay off our debt and, MAKE AMERICA WEALTHY AGAIN! x.com/pmarca/status/β¦
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