U.S. President Joe Biden on Friday officially blocked Nippon Steel's proposed acquisition of U.S. Steel on national security grounds, which is a decision that could hurt the U.S. economy, said a U.S. scholar.
Biden said Friday that he had decided to block the 14.1 billion U.S. dollars sale of U.S. Steel to the Japanese steel giant, while urging the two steelmakers to "fully and permanently" abandon their plan.
In late 2023, Nippon Steel announced plans to acquire U.S. Steel, which is headquartered in Pennsylvania, one of the key swing states in the 2024 presidential election. Before Biden withdrew from the race, both he and his then-opponent, Donald Trump, had expressed opposition to the acquisition.
In an interview with the China Global Television Network (CGTN), Nicholas Economides, an economics professor from New York University, also talked about President-elect Donald Trump's possible plans once he takes office later this month.
"It is very possible, I might say it's even likely, there will be tariffs and tax incentives and other measures that President-elect Trump will initiate, but I think that overall at present, this is in my opinion, a bad move for the United States. If U.S. steel would accept the merger, then we would have a stronger company - the Japanese and the American company together," said the professor.
As President-elect Donald Trump is only weeks away from taking office, many believe Trump's mantra of tariffs and "America First" are just one big negotiating ploy.
Economides pointed out that tariff is one of the methods Trump uses to protect certain industries of the United States.
"To a large extent, it could be a negotiating tactic. In some cases, though, and specifically specific industries, it might not be a negotiating tactic. Tariffs might be a way to protect the particular industries that Trump thinks are very important for the United States," he said.
Biden's decision to block Nippon Steel's proposed acquisition of US steel plant might hurt economy: scholar
A Brazilian national who was deported by the United States in January this year recounted the discriminatory and inhumane treatment he encountered during the repatriation in an interview with China Central Television (CCTV).
Jefferson Faustino was among the 88 deported Brazilians sent by a charter flight from the U.S. to Manaus, a city in northern Brazil, on Jan 24.
During dozens of hours of flight, they were handcuffed, shackled, and denied food and bathroom, and they almost lost their lives to an air conditioning fault, according to Faustino.
"They gave us water in very small bottles on the plane. And I couldn't drink it, because my hands were cuffed to the waist chain. So I had to bend down hard and squash the bottle to spray water into my mouth, because otherwise I wouldn't be able to reach the water at all. Even by doing so, I couldn't get water. When I squeeze the bottle, the water sprayed out and soaked me all over. In the 48 hours of repatriation, they distributed food only one time. It was a spoiled sandwich. The sandwich they gave turned purplish color. I was starving. What could I do? I had to eat," Faustino said.
"In the 48 hours of repatriation, they distributed food only one time. It was a spoiled sandwich. The sandwich they gave me was purple. I was starving. What could I do? I had to eat," he added.
Meanwhile, the American crew enjoyed fresh food and water, Faustino told CCTV.
"No, they had very good food. Every meal, they went over there to heat up box lunches and drink water. The cabin cabinets were full of lunch boxes, full of food, but they didn't give us that food," he said.
The Brazilian deportees protested the unfair treatment and asked for the food and water, but they were not given a response, because of the language barrier, Faustino recalled.
"Yes, we asked. We spoke loudly to them, but the crew didn't speak Portuguese or Spanish, only English. It's a humiliation to us the Brazilians, because we didn't have food and couldn't use the bathroom. The children were crying," he said.
After the plane arrived in Manaus, the air conditioning system broke down and the crew got off the plane, leaving the deportees suffocating in the enclosure.
"People couldn't breathe. The cabin was out of air. I managed to open an emergency exit door and shouted to the police: 'Help! Help! Help!' I yelled for help, asking them to come and save us, because I thought I was dying, I was dying," Faustino said.
The Brazilian government deemed this treatment "degrading" and "unacceptable", with the country's foreign ministry summoning the charge d'affaires of the U.S. Embassy to request an explanation over the issue on Jan 26.
"The U.S. government should be held accountable. Why didn't they train these people responsible for transporting deportees. Since the Trump administration came to power, it has created conflicts in American society and adopted policies that are completely against democracy and public opinion, disrupting relations between the U.S. and its economic and political partners," said Rinaldo Leal, a Brazilian lawyer.
U.S. President Donald Trump signed on his inauguration day an executive order that called for mass deportations of undocumented migrants. Since then, raids and deportations of undocumented migrants, especially those from Latin America, have continued to ramp up.
Brazilian deportee recounts inhumane treatment during flight from US
Brazilian deportee recounts inhumane treatment during flight from US
