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The misguided US backlash against Nippon Steel raises a question of trust
American objections to a deal to buy US Steel turn on an outdated view of how close Japanese companies are to the state.
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If Nippon Steel’s deal is approved, it will draw a mid-ranked American company under the umbrella of one of the world’s top three steelmakers, none of which is American.
PHOTO: BLOOMBERG
Leo Lewis
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The frayed end of 2023, with decoupling still an active force and geopolitics in ragged shape, is an odd time for any politician to suggest – even indirectly – that their nation does not trust its closest friends.
Particularly so for the United States, given the leaps of faith it continues to ask of its friends and the reminder by President Joe Biden, shortly after returning from Israel in October, that “American alliances are what keep us, America, safe”.
