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Trump says U.S. will double steel tariffs to 50%

Sandy Shanks

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Trump and U.S. Steel have described the deal as a merger in which U.S. Steel will become a wholly owned subsidiary of Nippon’s North America arm.

This is the definition of subsidiary that applies in this case. "A company controlled by a holding company."

So, Trump and U.S. Steel are in agreement.

U.S, Steel will be controlled by Nippon, a Japanese company.

Reuters reports, "U.S. President Donald Trump on Friday lauded a "partnership" between Nippon Steel and U.S. Steel at a political rally but stopped short of clarifying whether he planned to approve the companies' diplomatically sensitive merger. (Huh?)

"On a Pittsburgh, Pennsylvania-area stage decorated with signs celebrating "American steel" Trump appeared to signal he would support a long-sought tie-up between the Japanese and U.S. companies that he once opposed." (Double huh?)

"Proponents of the transaction are hoping Trump's visit would end a tumultuous 18-month effort by Nippon Steel to buy the iconic American company, beset by opposition from union leadership and two national security reviews. The White House and the companies have not responded to requests for comment on the status of deal talks.

The dimwitted President is playing games with the American economy.
 
It appears Trump is not playing games, but is purposely destroying the economy for his own gain.
 
US Steel now foreign owned. I am pretty sure he said he would never allow that to happen. So now you have a supposed national security industry controlled by a foreign company.
 
T A C O
 
Callen said:
US Steel now foreign owned. I am pretty sure he said he would never allow that to happen. So now you have a supposed national security industry controlled by a foreign company.
Click to expand...

Especially when these economy destroying tariffs are implemented in the name of national security...

Wonder how much Nippon Steel had to buy in Trump Crypto in order to get the deal past the line.
 
There is little doubt. This is all a big con.
 

Trump is a dumbass.
 
Callen said:
US Steel now foreign owned. I am pretty sure he said he would never allow that to happen. So now you have a supposed national security industry controlled by a foreign company.
Click to expand...
Yes, thanks to our dimwitted Republican President.

Wiser officials will put an end to this, but that is not the point. Republicans chose the President who suggested such a thing.

You will notice, the forum's Republicans are very quiet.
 
Trump is wrecking America.
 
Sandy Shanks said:
Yes, thanks to our dimwitted Republican President.

Wiser officials will put an end to this, but that is not the point. Republicans chose the President who suggested such a thing.

You will notice, the forum's Republicans are very quiet.
Click to expand...
While steel might be a "national security issue", most of US Steel has nothing to do with "national security".

US Steel produces sheet steel (in coils) and seamless pipe. Slabs can be sold but it's a small part of the consumer base.

Disclaimer: I work for said company. I think it's a good thing because without the cash injections, many of the older mills were in danger of being idled. U. S. Steel, as well as many legacy integrated mills, has alot of older equipment.
 


Nice to be president. If I had walked out where Trump is, wearing no PPE, I'd be fired.
 

Iiiiiiiiiiiittttttttttttttt'''sssssssssssssssss TACO Time again!
 
Good news for the steel workers who will keep their jobs! These plants were about to be shut down, and now they will remain open. Who would be mad about this?
 
Bandaid equipment
 
I didn't know you could make tacos out of steel.
 
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