US retreats from free trade

Nippon Steel wants to acquire US Steel but the deal is encountering political headwinds. Sarah Baurele Danzman writing for the Atlantic Council says the deal is a test of friendshoring – and the US is failing. Alan Wm. Wolff of the Peterson Institute for International Economics asks whether the US government should be concerned about the acquisition. Richard Katz in Japan Economy Watch discusses hope for a deal between Nippon Steel and the United Steelworkers. Gavin Bade in Politico reports that Biden voices opposition to the deal.

Meanwhile, the US House of Representatives passed legislation to force the divestment of TikTok or ban it from US app stores. Eight experts debate whether TikTok’s time is finally up and the implications for US-China relations in Foreign Policy. Rana Foroohar in Financial Times declares shipbuilding as the next front in the US-China trade war.

Andrew Duehren in The Wall Street Journal sees the US retreating further from a free trade consensus with these developments.

Mentioned publications

The US Steel deal is a test of friendshoring—and the US is failing – Sarah Bauerle Danzman, Atlantic Council, January 8, 2024
US Steel stands to benefit from Nippon Steel’s acquisition, but will it go through?
Should the US government be concerned about Nippon Steel acquiring U.S. Steel? – Alan Wm. Wolff, Peterson Institute for International Economics, February 2, 2024
Although a landmark case, is there any reasonable basis for concern about Nippon Steel’s acquisition?
Hope For A Deal between Nippon Steel and the Steelworkers Union Before Election Day – Richard Katz, Japan Economy Watch, February 27, 2024
Could a deal between Nippon Steel and the United Steelworkers union save the acquisition?
Biden voices opposition to US Steel sale – Gavin Bade, Politico, March 13, 2024
Will Biden’s statement doom Nippon Steel’s acquisition?
Is TikTok’s Time Finally Up? – China File Contributors, Foreign Policy, March 19, 2024
Eight experts debate the national security and economic questions surrounding Congress’s move, and the prospects for divestment.
HF sponsored access Shipbuilding: the new battleground in the US-China trade war – Rana Foroohar, Financial Times, March 13, 2024
What is the importance of commercial shipbuilding capacity, and should countries like the US focus resources on maintaining shipbuilding capabilities?
On TikTok and Steel, U.S. Retreats Further From Free-Trade Consensus – Andrew Duehren, The Wall Street Journal, March 16, 2024
The latest actions concerning TikTok and Nippon Steel indicate a deepening of American protectionism.