Talks of Japan's NIPPON STEEL buying US Steel have broken down for political reasons.
Japanese netizens have expressed a variety of opinions on the matter, with the most prominent opinion being that they feel sympathy for US Steel employees.
NIPPON STEEL had decided not to lay off any employees or executives of US Steel if the acquisition was successful, and had also decided to invest an additional USD 1.3 billion in the company.
This is because NIPPON STEEL aims to secure a production base for steel products in the US against the expected increase in tariffs on Japanese steel products in the US.
US Steel also needed to quickly recover from its financial difficulties, so the acquisition was mutually beneficial.
However, if the deal fails, many US Steel employees could be laid off.
Already, the acquisition is almost certain to fail.
It will be very interesting to see what happens to this matter in the future.