My latest column for the Minnesota Star Tribune, “Blocked Nippon deal leaves fate of U.S. Steel in question,” is out now.
In a widely expected move, President Biden officially blocked Nippon Steel’s proposed acquisition of U.S. Steel Friday morning. Though expected, this move could prove a seminal moment in the timeline of the American steel industry.
Biden, President-elect Trump, the United Steelworkers and general sentiment prevailed. But did the U.S. government just prevent a critical investment in modern steel infrastructure? It’s a gamble on a better deal in the future. I argue that the odds of that happening just got longer.
Read more in the Saturday, Jan. 4, 2025 edition of the Minnesota Star Tribune.
Yep. Union pressure brought the Nippon deal to an end. Japanese car companies have a few “plants” in this country how many are involved in collective bargaining ? I think you know the answer. That pits the lone worker against the company. That does not sound like an even match to me. Furthermore reading would suggest that the Steelworkers union has the opinion that USSteel has the moola to update. But as you report mini mills are the steel joy button of the moment and are in the South and are not unionized. So do you think Nippon would agree to unionized at the stroke of the pen signing at purchase ? Biden spoke of national security issues for his stopping the offer. For me the well being of the American worker is a national security issue. But worry not lardollini will change his stripes when he pushes himself back into the Oval Office.