Believe It or Not, the Sale of U.S. Steel Is Good for American Industry

In a bold stride that represents more than just a corporate transaction, Japan's Nippon Steel has agreed to acquire U.S. Steel for $14.9 billion. This landmark deal is a testament to the Japanese firm's confidence in the American market and, importantly, in the future of U.S. manufacturing under the Biden administration's industrial policy. However, despite its potential, the acquisition has stirred bipartisan political backlash in the United States. This reaction, while understandable in the current economic and geopolitical climate, overlooks several crucial benefits that this deal brings to the American economic and strategic landscape.