4 • 2.7K Ratings
🗓️ 27 December 2023
⏱️ 22 minutes
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0:00.0 | From the opinion pages of the Wall Street Journal, this is Potomac Watch. |
0:07.0 | Will politics stand in the way of a Japanese company's acquisition of U.S. Steel. |
0:14.7 | Plus new census figures show which states are growing and which states aren't, |
0:18.8 | and how that could affect political power in the house after the next census. |
0:22.9 | Welcome, I'm Kyle Peterson with the Wall Street Journal. |
0:25.9 | We are joined today by my colleagues, |
0:28.1 | columnist Alicia Finley and Kim's Drassel. |
0:31.8 | Last week, the company US, agreed to be acquired by the Japanese firm |
0:36.4 | Nippon Steel for about $14 billion. That values U.S. Steel at about a 40% premium compared to the company's share price before the deal was announced and after the deal was announced US deal shares surge 26% here is what the company CEO is saying the |
0:54.8 | combination is good for the US and creates a more competitive market here with |
0:58.8 | one of the US's greatest allies. But politicians are now voicing deep concerns urging that somebody must do something, including questions coming from the White House. |
1:09.0 | Here is Lail Brainer, the Director of President Biden's National Economic Council on Bloomberg. |
1:14.6 | Steel is a very vital sector for U.S. national security and for critical supply chain resilience and we've seen that in past |
1:26.3 | policies that have been undertaken by this president. So it is important to review or to make sure that there is serious scrutiny of these kinds of transactions from the perspective of national security and |
1:46.3 | supply chain resilience. |
1:48.6 | And here is Pennsylvania Senator John Fetterman. |
1:51.3 | I'm standing on the roof of my home right here in Braddock, Pennsylvania, right across the street |
1:56.1 | from the Edgar Thompson plan. |
1:58.6 | And I just have to say it's absolutely outrageous that they have sold themselves to a foreign nation and a company. |
2:04.8 | Can't do that. Steel is always about security as well too and I am committed to doing |
2:10.7 | anything I can do from using my platform on my position in order to |
2:14.9 | block this and I'm going to fight for the steel workers and their union way of |
... |
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