Bloomberg Businessweek US Steel-Nippon "Partnership" with Marc Morial
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May 27, 2025 Marc Morial, President and CEO of the National Urban League, discusses the impact of George Floyd's death on corporate America and its approach to racial justice. He critiques the US Steel and Nippon Steel partnership, questioning if it genuinely benefits workers or serves as PR. The conversation delves into job creation challenges, the implications of outsourcing on communities, and the complexities of achieving true racial justice in the corporate realm. Morial also addresses the hesitance of businesses to engage with societal issues, advocating for proactive leadership.
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US Steel-Nippon Deal Concerns
- The US Steel and Nippon Steel deal raises concerns about preserving American steel jobs.
- Guarantees are needed to prevent transferring jobs and production overseas.
Need Specific Industrial Policy
- Tariffs alone won't protect American jobs without an industrial policy.
- The strategy must specify which industries to grow for effective economic development.
Future Jobs Focus Needed
- Outsourcing jobs in past decades damaged communities despite cheaper goods.
- Future jobs must focus on rebuilding manufacturing and investing in biomedical research.