{"id":6032,"date":"2024-09-16T01:11:57","date_gmt":"2024-09-16T05:11:57","guid":{"rendered":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/?p=6032"},"modified":"2024-09-16T01:11:57","modified_gmt":"2024-09-16T05:11:57","slug":"japan-us-face-shared-challenge-from-cheap-china-steel-japan-pm-hopeful-says","status":"publish","type":"post","link":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/2024\/09\/16\/japan-us-face-shared-challenge-from-cheap-china-steel-japan-pm-hopeful-says\/","title":{"rendered":"Japan, US face shared challenge from cheap China steel, Japan PM hopeful says"},"content":{"rendered":"\n

Link to article: https:\/\/www.reuters.com\/markets\/commodities\/japan-us-face-shared-challenge-cheap-china-steel-japan-pm-hopeful-says-2024-09-14\/<\/a><\/p>\n\n\n\n

Japan is attempting to negotiate with the United States in order to combat cheap Chinese steel. China is the largest steel producer in the world, because of this Japan has attempted to combine markets with the United States steel industry. Nippon Steel -Japan’s largest steel company- is attempting to work a $14.9 billion bid for U.S. steel. A U.S. National Security panel has until September 23rd to decide whether or not the White House should block such a deal. However, Japan is not just attempting to negotiate on an economic standpoint but also from an environmental standpoint. Japan’s former environment minister claims that the United States should not compete but rather face China because China is producing cheap steel without renewable or clean energy which will affect the countries who are producing steel by “fair market rules”<\/p>\n\n\n\n

To further complicate things, both the United States as well as Japan are in the midst of an election. Because of this, negotiations on the Steel crisis are increasingly difficult as current President Biden, current Vice President and presidential candidate Harris (Dem.), and former President and presidential candidate Trump (Rep.) have all stated that they would decline this proposal. While the United States does not want to limit their presence in the steel industry and potential profit, refusing to negotiate with Japan could be detrimental to democratic states as China could potentially own the Steel market. Owning the steel industry could potentially boost the Chinese economy to match or surpass the United States, making China the strongest economy in the world. This would lead to unfair prices and limited business around the world. An economic alliance between the United States and Japan could prove to be beneficial to both East Asia as well as the Western world because it would provide an alternative to cheap Chinese steel.<\/p>\n\n\n\n

China\u2019s economic dominance and soon to be monopoly over the steel industry greatly stresses the need for trading organizations or economic alliances within East Asia. If the United States is not willing to work with Japan in order to combat a Chinese dominant industry, there must be another nation capable of such an agreement which could help create a fair market in East Asia and the rest of the steel producing world. A trading organization or an economic IGO within East Asia could be beneficial in limiting the growth of China\u2019s economy, while boosting other Eastern Asian economies. I am curious as to why the United States will not work with Japan in limiting the growth of China\u2019s dominance in the steel industry and I am curious to see how that will change following the outcome of the election.<\/p>\n","protected":false},"excerpt":{"rendered":"

Link to article: https:\/\/www.reuters.com\/markets\/commodities\/japan-us-face-shared-challenge-cheap-china-steel-japan-pm-hopeful-says-2024-09-14\/ Japan is attempting to negotiate with the United States in order to combat cheap Chinese steel. China is the largest steel producer in the world, because of this Japan has attempted to combine markets with the United States steel industry. Nippon Steel -Japan’s largest steel company- is attempting to work a $14.9 billion bid for U.S…. Read more »<\/a><\/p>\n","protected":false},"author":282,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6032","post","type-post","status-publish","format-standard","hentry","category-analysis"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/6032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/users\/282"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/comments?post=6032"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/6032\/revisions"}],"predecessor-version":[{"id":6033,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/6032\/revisions\/6033"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/media?parent=6032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/categories?post=6032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/tags?post=6032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}