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

Airyaman said:
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.
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Who is responsible for the older equipment?

US Steel is a publicly traded company. This means the board of directors must answer every quarter to shareholders who don't give a damn about long-term goals, the product, the company's challenges and difficulties, the employees, or the customers. All they care about is getting their quarterly dividend. This has caused the company to be short-sighted and here we are.
 
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.
 
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