The long struggling steel maker, formerly the largest company on the planet has agreed to be purchased by Nippon Steel.

The company founded by JP Morgan, Charles Schwab and Andrew Carnegie once employed over 300,000 workers. Now just a shell of itself, the largest Chinese steel company produces almost 10 times as much.

The combined Nippon and US Steel will still be much smaller than some of the Chinese companies.

Some US lawmakers are vowing to fight the deal.

(12-18-2023 06:24 PM)Todor Wrote:  The long struggling steel maker, formerly the largest company on the planet has agreed to be purchased by Nippon Steel.

The company founded by JP Morgan, Charles Schwab and Andrew Carnegie once employed over 300,000 workers. Now just a shell of itself, the largest Chinese steel company produces almost 10 times as much.

The combined Nippon and US Steel will still be much smaller than some of the Chinese companies.

Some US lawmakers are vowing to fight the deal.

At least its a Japanese company.

They've been talking about China dumping steel since the early 90s. Clinton, W. and Obama just sat back and let them decimate the US steel industry.

Steel hasn't been a source of geopolitical power for at least half a century.

You may as well worry about Chinese dominance of industries like horse saddles and photographic film.

If this keeps us with capacity to still make high quality steel, and we are one of the few countries that have mastered it, then I can live with it.

(12-19-2023 01:55 PM)49RFootballNow Wrote:  If this keeps us with capacity to still make high quality steel, and we are one of the few countries that have mastered it, then I can live with it.

Crazy to think it was almost 100 years ago when we finally got our act together and standarized how steel is made in this country.