President Donald Trump issued an executive order on Friday approving U.S. Steel's merger with Japan's Nippon Steel, after the companies signed a national security agreement with the U.S. government.
    • octobob@lemmy.ml
      11·
      3 days ago

      Trump sucks for a million other reasons but this is objectively such a good thing for my region (Pittsburgh) and the business I work in. US Steel was for sale no matter what and the American companies like Cleveland Cliffs and Nucor that were trying to buy it were offering around half the price per share as Nippon, and probably a quarter of the investment while maintaining US steel’s longstanding flippant policy towards environmental concerns and keeping old outdated dangerous machinery and equipment.

      Nippon is investing billions into this region and US Steel. The new technology of steel mills is safer, cleaner, and better. There is way more automation taking people out of dangerous and hazardous roles in the mills

      Really I’ll be busy af with overtime, service calls for installations, our sales will skyrocket resulting in more jobs. Also Japanese companies tend to invest not only in the business, but things like public transit, improving our terrible roads, housing, etc.

      I did not understand why Biden blocked the deal for “security concerns” and I don’t give a fuck that trump was opposed to the deal on the campaign trail to win votes. I was very happy to hear the news as it will pretty dramatically affect my livelihood and career.