U.S. Steel sold to Japan

[yj99t04]

Hopefully they won’t move it. Toyota plant in Georgetown Ky inside the fence is not considered American soil believe it or not. I learned that in my CCW class about 8 years ago when they were discussing where you could or couldn’t carry a firearm. Inside the fence at the Toyota plant was one where you couldn’t carry because it is not American soil. That is almost like an embassy building area.

If that's true, then the vehicles aren't made in America.

[boneil]

I think the buyout should be and will be blocked. This is one of those things where 20 years from now, if things goes sideways, we think how stupid it was to allow it to happen.

[soobassmasters]

If that's true, then the vehicles aren't made in America.

its not true its a foreign trade zone which only applies to tarrifs taxes and so forth.

[Rangerdeepv]

Crazy what is allowed in this country. All the wealth created is being given away to the world. Need to share but not give..............

[Nickk]

meh, better than this sort of thing: Saudi company draws unlimited Arizona ground water to grow alfalfa amid drought - CBS News

[novakevlar]

I think the buyout should be and will be blocked. This is one of those things where 20 years from now, if things goes sideways, we think how stupid it was to allow it to happen.

Blocked based on what?

Watching coverage on this earlier the analysts were sure it would go through since 1) it would not reduce competition in the marketplace and 2) there's no threat to national security. USS is the 27th largest steel company, not exactly a big fish.

[James john]

We will pretty much be owned by China before long

[ProVle]

This list is a few years old, notice Beam/Suntory and the Horse farms are not there I think. https://ced.ky.gov/kyedc/kpdf/Japane...ties_in_KY.PDF

[TNsmalliesfan]

And this nightmare just keeps going

[lakebouef5]

Yes, I hear even the WH is for sale.

[Thamelau]

I don't understand how this company is going to be different than Toyota. Japanese owned company operating in the US with US labor. I guess I also don't understand how this contributes to the downfall of America. If they shut down operations or move it overseas then I would agree that's bad. Ownership being Japanese doesn't seem like that big of a deal. Workers still paying American Taxes and still having American workers. A handful of suites in Japan get paid too. I just don't think the sky is falling and don't think this purchase is close to an indication of such.

[spinningreel]

Lots of outrage But then run right out to buy junk tools from Harbor Freight, & buy ittle Johnny Christmas presents from TEMU. Can't have it both ways.

[Cestratton]

Since when did having a stroke make someone smart? Fetterman has been on a roll lately and is one comment away from an FBI investigation

[spinningreel]

I don't understand how this company is going to be different than Toyota. Japanese owned company operating in the US with US labor. I guess I also don't understand how this contributes to the downfall of America. If they shut down operations or move it overseas then I would agree that's bad. Ownership being Japanese doesn't seem like that big of a deal. Workers still paying American Taxes and still having American workers. A handful of suites in Japan get paid too. I just don't think the sky is falling and don't think this purchase is close to an indication of such.

Spot on. ^^^

[boneil]

Blocked based on what?

Watching coverage on this earlier the analysts were sure it would go through since 1) it would not reduce competition in the marketplace and 2) there's no threat to national security. USS is the 27th largest steel company, not exactly a big fish.

It's not about competition or national security today its about tomorrow. How many steel companies do we allow to be bought by foreign entities before we consider it a problem? What happens in 10 years if the new owners decides they've made all the profit they need and the steel mills would require too much new investment to keep it running and they decide to shut it down? I've seen this game pay out before. We need steel to build tanks, bombers, ships, munitions and weapons. We need steel to build bridges, pipelines, transmission towers. Steel production is a massive national security interest. It's easier to protect it now than wait and try to save it.

It's never a problem until it is a problem and then it's too late.

[BOATS]

If that's true, then the vehicles aren't made in America.

Yes, Toyota Motor Manufacturing, Kentucky (TMMK) is located in Georgetown, Kentucky, United States. It is a private company and operates on private land1. However, it is subject to the laws and regulations of the United States and the state of Kentucky1

I did not type the above, it is copied and pasted.

[DAC244]

I don't understand how this company is going to be different than Toyota. Japanese owned company operating in the US with US labor. I guess I also don't understand how this contributes to the downfall of America. If they shut down operations or move it overseas then I would agree that's bad. Ownership being Japanese doesn't seem like that big of a deal. Workers still paying American Taxes and still having American workers. A handful of suites in Japan get paid too. I just don't think the sky is falling and don't think this purchase is close to an indication of such.

All profits going over seas that should be staying in this country! This country has been sold out!

[Triton 186]

Why are they for sale, has over regulation made them unprofitable ? , seems to be a high demand for steel

[ProVle]

All profits going over seas that should be staying in this country! This country has been sold out!

That fact must be hard for some to understand.

[novakevlar]

It's not about competition or national security today its about tomorrow. How many steel companies do we allow to be bought by foreign entities before we consider it a problem? What happens in 10 years if the new owners decides they've made all the profit they need and the steel mills would require too much new investment to keep it running and they decide to shut it down? I've seen this game pay out before. We need steel to build tanks, bombers, ships, munitions and weapons. We need steel to build bridges, pipelines, transmission towers. Steel production is a massive national security interest. It's easier to protect it now than wait and try to save it.

It's never a problem until it is a problem and then it's too late.

USS isn't Nucor, but clearly foreign ownership is a sore point for many. I guess we have a lot of unpatriotic shareholders and owners. How is that the government's duty to police? Sounds like we need more laws and regulations to restrict profit seekers from selling out their country.