Nipon steel blocked from buying a 'US steel' by???? The protection of a dead or struggling industry may be economically rational in some instances.
US Steel is old and in need of significant changes to allow it to be competitive. Nippon steel was possibly a pathway to improve? US Steel executives stating plants will have to close with the blocking of Japan (Nippon) take over.
UK and US subsidies in steel are possibly backing old tech not investing in the newer and more efficient technology which is able to compete on the world stage with Chinese domination and scale. Stopping mergers to enable required scale in this sector with close allies and friends seem an economic distortion to me.
All sides of US politics is against this
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US Steel CEO confident Nippon Steel deal will close 'on its merits'
