logo
welcome
The Hill

The Hill

US Steel xenophobia is precisely how not to compete with China

The Hill
Summary
Nutrition label

77% Informative

John Avlon : U.S. Steel deal with Nippon Steel is under review by Committee on Foreign Investment in the United States .

Avlon says the deal is fair enough to go ahead, but it's not about national security or competitiveness.

He says it's a xenophobic reflex reaction, reflects economic nationalism in Trump/Biden trade and industrial policies.

U.N. military requires only 3 percent of the steel produced by US . manufacturers, none of which is supplied by US Steel , he says.

An inward-looking economic nationalism is driving populism in the U.S. and the West , but it’s not 1991 anymore, says Robert Manning .

He says it is difficult to see how opposing the merger will enhance U.K. manufacturing or result in an America that is more competitive with China .

Rejecting the deal would also raise some troubling questions, he says.

VR Score

78

Informative language

78

Neutral language

13

Article tone

formal

Language

English

Language complexity

56

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

21

https://www.piie.com/research/piie-charts/us-steel-already-highly-protected-imports#:~:text=The%20US%20steel%20industry%20has,4%20percent%20as%20of%202016.https://crsreports.congress.gov/product/pdf/R/R47107https://www.bloomberg.com/opinion/articles/2024-01-05/nippon-steel-s-takeover-of-us-steel-should-get-biden-s-approvalhttps://www.whitehouse.gov/briefing-room/statements-releases/2023/12/21/statement-from-national-economic-advisor-lael-brainard-on-u-s-steel/https://www.wsj.com/business/deals/nippon-steel-to-acquire-u-s-steel-for-55-shr-854c6f73https://www.wsj.com/articles/xenophobia-drives-foes-of-nippon-steels-deal-japan-national-security-union-cc7ad53ahttps://www.cnbc.com/2023/12/13/us-steel-received-multiple-bids-in-excess-of-40-a-share-sources-say.html#:~:text=The%20sale%20process%20started%20in,attracted%20five%20bidders%2C%20including%20ArcelorMittal.https://www.reuters.com/markets/deals/three-republican-senators-oppose-nippon-us-steel-deal-over-national-security-2023-12-19/https://stockanalysis.com/stocks/x/employees/https://www.ussteel.com/about-us/historyhttps://www.bloomberg.com/news/articles/2024-01-11/biden-review-of-us-steel-deal-seen-dragging-on-maybe-into-2025https://www.casey.senate.gov/news/releases/casey-fetterman-deluzio-urge-secretary-yellen-to-block-us-steel-acquisitionhttps://worldsteel.org/steel-topics/statistics/top-producers/https://www.reuters.com/world/us/biden-extends-eu-steel-aluminum-tariff-exemption-2-years-2023-12-28/https://www.washingtonpost.com/opinions/2024/01/26/vance-rubio-hawley-protest-steel-deal/?pwapi_token=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJyZWFzb24iOiJnaWZ0IiwibmJmIjoxNzA2NDE4MDAwLCJpc3MiOiJzdWJzY3JpcHRpb25zIiwiZXhwIjoxNzA3ODAwMzk5LCJpYXQiOjE3MDY0MTgwMDAsImp0aSI6IjAyOTU2ZTZiLTFjOTMtNDVlYi05NmVjLTkwNDgyYWVjOThiNyIsInVybCI6Imh0dHBzOi8vd3d3Lndhc2hpbmd0b25wb3N0LmNvbS9vcGluaW9ucy8yMDI0LzAxLzI2L3ZhbmNlLXJ1YmlvLWhhd2xleS1wcm90ZXN0LXN0ZWVsLWRlYWwvIn0.0JUBQ2Zf4FkQJrY26YtuBF91pxiucF15lwhlHdcMAFIhttps://www.aei.org/op-eds/trumps-trade-war-was-a-loser/#:~:text=Decades%20of%20technological%20innovation%20ensured,1.5%20man%2Dhours%20by%202017.https://www.jetro.go.jp/ext_images/usa/2023/Japan-US-Investment-Report/Japans_US_Investment_Dynamics2023.pdfhttps://www.reuters.com/markets/deals/cleveland-cliffs-argued-its-us-steel-bid-was-worth-more-than-nippon-steels-2024-01-24/https://www.ussteel.com/about-us/history#:~:text=U.%20S.%20Steel%20products%20were%20used,days%20to%20just%2030%20days.https://companiesmarketcap.com/usa/largest-companies-in-the-usa-by-market-cap/?page=6#google_vignettehttps://www.theglobaleconomy.com/rankings/gdp_share/

Affiliate links

no affiliate links