By moving toward blocking a Japanese purchase of U.S. Steel, the Biden-Harris administration is putting short-term political considerations ahead of both sound economics and wise diplomacy.
Blocking the deal will endanger, not save, American jobs. The almost certain result of the Biden-Harris fake nod to “made in America” values is that thousands of Pennsylvanians will lose their livelihoods. It’s far better to have Japanese corporate owners support American jobs than to have U.S. corporate owners cut jobs while ordinary American stockholders and pension funds lose billions of dollars from their savings. Blocking the deal also could undermine one of the United States’s most important alliances, weakening the U.S. position against the rapacious Chinese communist regime.
