Source: The Daily Economy
by Stefan Bartl
“The Biden Administrations’ interventions in the steel industry reflect a pattern of prioritizing short-term political gains over sustainable economic strategies. The market manipulation of the 1980s through Voluntary Restraint Agreements, mirrored in the recent prohibition of Nippon Steel’s acquisition of US Steel, demonstrates a troubling reluctance to learn from past mistakes. Rather than fostering investment, innovation, and competition, these protectionist policies risk stifling growth and ignoring the potential for revitalization in regions like the Rust Belt, where Nippon Steel’s proposed investments could have delivered much-needed economic benefits.” (01/08/25)