On December 2, President-elect Donald Trump wrote:
I’m completely towards the as soon as nice and highly effective U.S. Metal being purchased by a international firm, on this case Nippon Metal of Japan.
So you’d count on that he would dislike international funding in america, proper?
Mistaken. Donald Trump says he needs extra international funding. In “Why Commerce Must be Free,” Defining Concepts, October 30, 2024, I wrote:
In his current look earlier than the Financial Membership of Chicago, Trump mentioned he needs to impose excessive tariffs in order that international companies will transfer their manufacturing to america. In different phrases, he needs extra international direct funding.
Should you click on on his speech within the hyperlink immediately above, go to in regards to the 11:30 level the place he says that to keep away from tariffs, international corporations want solely construct their crops right here. Not purchase their crops right here. Oh, no. Construct their crops right here. He by no means explains why he needs international traders to construct, however not purchase.
Vice-President-elect JD Vance used to know why it was good for america if the federal government allowed international corporations in Japan to purchase home companies that have been at risk of shutting down. As Eric Boehm of Purpose wrote on December 19, 2023, quoting a passage in Vance’s e book Hillbilly Elegy:
“The Kawasaki merger represented an inconvenient reality: Manufacturing in America was a tricky enterprise within the post-globalization world,” Vance writes. “If corporations like Armco have been going to outlive, they must retool. Kawasaki gave Armco an opportunity, and Middletown’s flagship firm in all probability wouldn’t have survived with out it.”
Too dangerous Vance appears to have forgotten it. He ought to refresh his understanding by studying Hillbilly Elegy.
Why do I say that Donald Trump is attacking U.S. Metal? As a result of he doesn’t wish to enable its homeowners to promote. In the end, he’s attacking their property rights.
