This is CBS I on the World with John Bachelor.

Here's John Bachelor.

Nippon Steel, a fourth largest steelmaker in the world I learned from Josh Rogan,

who writes global opinions for the Washington Post, making an offer a private company publicly traded for US Steel which is way

down on the list of steelmakers I believe the number was 26 it's very high China

dominates steelmaking.

And then, Josh, a very good evening to you.

This is the part where I need help to explain to the audience.

The candidates for the presidency oppose the acquisition of U.S. Steel by Nippon Steel.

And the President of the United States is also said to oppose the acquisition of US Steel, number 26 or so in the world, by number four.

And the explanation given is national security. Josh it's 2024 not 1944 what's happened can you

explain this to my colleagues thank you. Well good evening John well you're absolutely right. There is no demonstrable national security threat posed to our country by Japanese investment in U.S. steel manufacturing. I mean, it's just, no one's really able to articulate what it even could be.

I mean, theoretically, in some sort of future war of Japan switched sides and but against us with China or Russia sure but no

didn't actually think that's going to happen so you know what's really going

on here is that the Biden administration is looking for a justification to block the deal because the

White House calculated that this will be to their political benefiting from Pennsylvania

head of the presidential election and you know they don't want to get

alfanked by Donald Trump and J.D. Vance who have been against the acquisition of the U.S.

deal which is like you know the third largest steel company now in the United States, it used to be the biggest

company in the world actually, you know, a hundred years ago, but now it's a very medium-sized steel company by

Nipposseil, even though that deal would actually help U.S.

steel create thousands of jobs, you know survive its financial woes, expand its mills, and you know develop the research and

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