The #1 hodler of US bonds is Japan
They’ll call it a national security issue.
Because it kind of is. The country’s largest domestic supplier of steel shouldn’t be in foreign hands, no matter what countries you’re talking about.
Yeah and the us department of defense uses 3% of that steel to manufacture military items. It absolutely is a national security consideration
You are correct.
But, when they say this, the deal is dead.
But how though? What does it matter if the profits end up in the pockets of big corporations over there instead of here? What nefarious plot would be averted by disallowing the sale?
Considering the issues with supply that COVID exposed, this immediately red flagged as a major national threat, in my mind.
Steel has always been a national security issue. It’s what tanks and ships are made of.
Learning from history isn’t America’s strong suit right now, but this is certainly the right point of view on it. At least there’s a decent push to get silicon chip manufacturing back, but it sorta feels like herding cats when they’re allowed to get concessions and then leave anyways.
