Marc Morial on US Steel-Nippon Deal, Economic Policy, and Social Progress

US Steel-Nippon Deal Concerns

• ⚠️ The National Urban League has taken a position against the US Steel and Nippon Steel transaction, primarily due to concerns about American jobs.
• 💡 Both Biden and Trump opposed the acquisition, fearing production transfers to Japan and job losses, a concern that persists with the current deal.
• 💰 While the deal is presented as a partnership, questions remain about whether it is truly an acquisition and what protections for American workers will be in place.
• 📈 The stated potential of 70,000 jobs and $14 billion to the US economy is met with skepticism, given US Steel's current employee count and the potential for production shifts abroad.

Economic Policy and Industrial Strategy

• 🎯 Tariffs alone are seen as a scattershot approach without a clear industrial policy to specify which industries to grow.
• 🏭 Rebuilding manufacturing requires specificity on how policies will generate jobs in communities like Detroit, Newark, and Gary.
• 📉 The outsourcing of jobs in the 80s and 90s, driven by free trade policies, damaged communities despite consumer benefits of cheaper goods.
• 🔬 Disinvestment in biomedical research and technology through NIH cuts is viewed as long-term damaging, leading to scientists and investments going abroad.

Social Progress and Corporate Commitments

• ⚖️ Five years after George Floyd's killing, there's a sense of a pendulum swing in how companies and administrations discuss race.
• 🚓 While progress has been made in police reform through convictions and departmental agreements, the current administration's stance on civil rights investigations creates headwinds.
• 🏢 Many institutions made commitments to DEI, but some are now walking them back or making cosmetic changes under pressure.
• ✊ American businesses are encouraged to demonstrate courage by recognizing the diverse marketplace for future employees and customers.
• 🗣️ Corporate leaders are urged to speak out, with Jamie Dimon and Roger Goodell cited as exceptions who have made important statements.

Political Landscape and Future Outlook

• 🗳️ Objective economic conditions, COVID's impact, wage depression, and inflation have led to cynicism about government's ability to make a difference.
• 🚀 The Democratic coalition is seen as poised for a makeover, with a need for a candidate who can disrupt and build a vision for the future.
• 🤝 Historically, there was a more candid and open working relationship with civil rights leaders in past administrations compared to the current perceived performative approach.
• 🤔 Regarding Kamala Harris's candidacy, she is viewed as a good candidate who faced a tough lane, coming close to defeating a candidate on their third run for president.