Tag: US President

US Steel strife: Joe Biden’s stance on Nippon Steel deal rattles markets

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Joe Biden came out against Japanese Nippon Steel’s takeover of US Steel, stating that the company should retain American ownership. “US Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated,” said the US President in a statement, at risk of upsetting its key ally. US Steel stock tumbled nearly 13% on Wednesday after President Biden expressed his opposition to the deal.

Nippon Steel’s $14.1 billion proposal to buy an iconic American steel company was opposed by several US lawmakers on national security grounds. In August 2023, US Steel rebuffed a $7.3 billion takeover from rival steelmaker Cleveland-Cliffs and launched a formal review of its strategic options. Since then, US Senators, including J.D. Vance, have been urging the company not to consider foreign buyers. Interestingly, the United Steelworkers (USW) union had supported the Cleveland-Cliff acquisition but had opposed any such arrangement with the Japanese company.

Experts believe that the deal suffered because of the bad timing, considering this is an election year in the country. As Joe Biden and his arch-rival Donald Trump are set for a rematch, both have vowed to bolster domestic manufacturing. In December, the White House said that the deal would require more scrutiny given the company’s core role in producing a material that is crucial for national security.

The president’s intervention in the transaction highlights the influential position the union of steelworkers and its president, David McCall have. “I told our steelworkers I have their backs,” said Biden. According to the reports, the workers’ body is seeking written guarantees about honouring all the labour contracts.

According to Bloomberg, the Biden administration is investigating Nippon Steel’s ties to China as part of its assessment of the US Steel deal, with a focus on increasing pressure on Beijing.

On March 15, 2024, Nippon Steel released a statement stating, “Transaction delivers clear benefits to US Steel, union workers, the broader American steel industry, and American national security.” It added that through increased financial investment and the contribution of our advanced technologies to US Steel, Nippon Steel will advance American priorities by driving greater quality and competitiveness for customers in the critical industries that rely on American steel while strengthening American supply chains and economic defenses against China.

While addressing the concerns of steelworkers, it also said that the aim is to bolster and grow US Steel in the US market in a way that prioritises its talented employees. The company states that they have provided significant commitments to the USW in continued efforts to reach a mutually agreeable resolution. These include job security, pension security, capital investment, technology sharing, financial reporting, and the ability to enforce contractual obligations post-closing.

“Japan’s business community has been shocked by the strong reaction in Washington to the deal, especially since the US remains the most attractive mergers and acquisitions market for Japanese companies,” reported the Financial Times.

Japan is the United States’ fourth largest trading partner, and one of the top providers of foreign direct investment (FDI) in the country. Biden’s statement on the deal comes just ahead of Japanese Prime Minister Fumio Kishida’s visit to the US in April. He will be addressing a joint session of the US Congress during the visit. Both leaders will focus on ‘deepening’ ties between the nations.

As discussions continue and stakeholders navigate through the intricacies of this transaction, it remains to be seen how the outcomes will shape future business dealings and diplomatic relations between these two influential nations.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Jimmy Carter, first living ex-president honoured with official White House Christmas ornament

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Former President Jimmy Carter has another distinction to his name.

The 99-year-old is the first of the U.S. presidents to be honored with an official White House Christmas ornament while still living. The ornament was unveiled Wednesday and is the latest in an annual series that the nonprofit White House Historical Association began issuing in 1981, the year Carter left office.

Carter’s ornament is shaped like an anchor in a nod to his Navy service. Other aspects of the former Georgia peanut farmer’s four-year term are represented by doves, a globe, a submarine and peanuts. The Democrat was elected in 1976 and denied a second term in 1980.

Stewart McLaurin, president of the historical association, said the honor marks “the first time in the history of our ornament program that we’ve been able to feature a living president.”

Carter, who is 39th on the list, is the only president to attend the U.S. Naval Academy, McLaurin said. Carter married his wife, Rosalynn, after graduating in 1946, and went on to serve in the Navy for seven years before he returned to his hometown of Plains, Georgia.The rear of the ornament features an image of the USS Jimmy Carter, the last of the Seawolf class of nuclear submarines that were built for the Navy. Carter is the only president to have a nuclear submarine named for him, McLaurin said.

A view of the north side of the White House on the front of the ornament features doves, symbolizing Carter’s presidential peacemaking efforts. Carter helped broker the Camp David Peace Accords between Egypt and Israel in 1978.

A globe on the back of the ornament speaks to Carter’s commitment to the environment and his efforts as president and as a private citizen to secure peace around the world. He was awarded a Nobel Peace Prize in 2002.

Peanuts and their blossoms adorn the bottom of the ornament, serving as a reminder of his years as a peanut farmer and businessman in Plains.

Carter is in hospice care at his home. After a series of short hospital stays, Carter announced early in 2023 that he had decided to give up medical intervention and spend the rest of his time at home with his family while receiving end-of-life care.

Rosalynn Carter died in November, about six months after the family disclosed that she had been diagnosed with dementia.

Carter is the oldest living former president. He and his wife were married for more than 77 years, the longest marriage in U.S. presidential history.

The White House Historical Association was created in 1961 by first lady Jacqueline Kennedy to help preserve the interior of the White House and educate the public. It is a nonprofit, nonpartisan organization that receives no government funding. It raises money mostly through private donations and sales of retail merchandise, including the annual Christmas ornament.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

MS Dhoni spotted playing golf with former US President Donald Trump

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Former Indian cricketer and the captain of Indian Premier League side, MS Dhoni has been spotted playing golf with former US President Donald Trump.  A picture of Dhoni and Trump became viral on social media platform X (formerly Twitter) on Friday.

In the photo Dhoni can be spotted with Trump who was wearing his trademark red-coloured MAGA (Make America Great Again) cap.  The two men were pictured with their clubs at a golf course.

A day earlier Dhoni was seen at the US Open as he was caught on the cameras enjoying the men’s singles quarterfinals clash between Carlos Alcaraz vs Alexander Zverev.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Indian-origin candidate draws criticism over ‘climate change hoax’ remark

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian-American millionaire and Republican candidate Vivek Ramaswamy has drawn criticism after calling climate change a ‘hoax’ at the first Republican debate last week. Ramaswamy made this comment when GOP candidates were arguing over global warming and other climate-related changes on August 24.

According to a BBC report, calling himself a candidate who “isn’t bought or paid”, Ramaswamy said, “I’m the only candidate on stage who isn’t bought and paid for, so I can say this…. Climate change is a hoax. More people are dying of bad climate change policies than they are of actual climate change.”

Notably, his remarks were booed by the crowd and also slammed by former New Jersey Governor Chris Christie, who went on to compare Ramaswamy with ChatGPT.

After his controversial remarks during the first GOP debate, US President Joe Biden called Ramaswamy’s comments “dangerous and irresponsible”. Former Vice-President Mike Pence also took a sharp jibe and claimed that Ramaswamy is “far from reality.”

During the debate, Ramaswamy also made comments on carbon emissions. While taking a veiled dig at the present US government and its carbon policies, he said that the “anti-carbon agenda of the government is a wet blanket on the country’s economy”.

He also took to his Instagram handle and asserted, “will abandon the anti-carbon cult in the US — and refuse to let the rest of the world bully us about it either.”

The Earth’s surface area is covered with more plant life today than 50 years ago – because, yes, carbon is plant food and surface temperatures are a little higher. I’m pro-environment. Clean air. Clean water. Preserving national parks. Ironically these things are put on the back… pic.twitter.com/bmGDQg7Guo

— Vivek Ramaswamy (@VivekGRamaswamy) August 31, 2023

Calling himself pro-environment, the youngest Republican candidate in the next year’s US Presidential poll race said, “The Earth’s surface area is covered with more plant life today than 50 years ago – because, yes, carbon is plant food and surface temperatures are a little higher. I’m pro-environment. Clean air. Clean water. Preserving national parks. Ironically these things are put on the back burner in a world where our only focus is the climate cult itself.”

Also Read:Want Elon Musk to be my presidential adviser, says Indian-American Vivek Ramaswamy

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US Supreme Court ruling kills President Joe Biden’s $400 billion plan on federal student loan debts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Supreme Court just finished issuing its biggest decisions of the term, killing President Joe Biden’s $400 billion plan to cancel or reduce federal student loan debts, ending affirmative action in higher education and issuing a major decision that impacts gay rights. The decisions over the past week cap off a term that began in October in which the justices also considered big issues involving voting rights and religion.

The court will next meet in the fall to resume hearing cases. Here are a number of things to know about the Supreme Court’s most recent term:

The court has a solid six-justice conservative majority but ultimately issued some decisions in which the most conservative position did not win. That surprised some court watchers.

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In four major cases, conservative and liberal justices joined to reject the most aggressive legal arguments advanced by conservative state elected officials and advocacy groups. Those included decisions on voting, a Native American child welfare law and a Biden administration immigration policy.

On voting rights, for example, the justices rejected a Republican-led effort to weaken a landmark voting rights law. Instead, they ruled in favor of Black voters in Alabama in a congressional redistricting case. The state, where more than one in four voters is Black, will now have to redraw its congressional districts in a way that gives Black voters more power. The decision was 5-4 with Chief Justice John Roberts and Justice Brett Kavanaugh joining the court’s three liberals.

Separately, while the justices just last year overturned Roe v. Wade and allowed states to ban abortion, the court in April rejected a conservative-led effort to get a drug used in the most common method of abortion pulled from the market. The justices allowed the drug, mifepristone, to stay on the market for now while a lawsuit proceeds.

While there were surprises among the justices’ rulings, conservatives still won big. On affirmative action, they achieved a long-desired victory. While the court had narrowly upheld race-conscious college admissions programs in the past 20 years, including as recently as 2016, a conservative wing of the court strengthened by three appointees of former President Donald Trump struck down the practice 6-3.

Similarly, on student loans, the court split 6-3 along ideological lines to kill a signature Biden administration program. Other major rulings where the conservatives won included a 5-4 ruling that sharply limited the federal government’s authority to police water pollution.

Chief Justice John Roberts led the court’s biggest rulings, writing the majority opinions on student loans, affirmative action and voting cases from North Carolina and Alabama. Last year, the five conservatives to Roberts’ right formed majorities to sometimes act more aggressively than the chief justice wanted, including overturning Roe v. Wade without his vote. Roberts’ more narrow position in the case would have instead cut back on abortion rights.

As chief, Roberts gets to decide who writes the majority opinion in cases where he’s in agreement. This time, he assigned those major opinions to himself, ensuring that his hand was steering the court.

The court’s newest justice also wound up being its most vocal. Jackson began her first term on the court in October, and it was clear early on that she would be an active participant in arguments. Over the course of the term’s 59 arguments, she spoke some 78,800 words, far more than the next most voluble justice, according to research by Adam Feldman and Jake Truscott.

Like her colleagues, Jackson wrote about a half a dozen majority opinions this term. Her first came in a dispute between states over unclaimed money while her most significant may have been a 7-2 ruling in which the court declined to broadly limit the right to sue government workers. She also authored a number of dissents, including one in the affirmative action in which Jackson, the court’s first Black woman, accused her colleagues in the majority of “let-them-eat-cake obliviousness.”

Since joining the court in 2017 Justice Neil Gorsuch has emerged as a champion of Native rights, sometimes breaking with fellow conservatives on Native issues. In 2020, for example, he was the author of a 5-4 decision in which the court ruled that a large chunk of eastern Oklahoma remains an American Indian reservation.

This term, he wrote passionately in two Native rights cases. He dissented from a ruling against the Navajo Nation in a dispute involving water from the drought-stricken Colorado River. And while he was in the majority in the court’s case involving the Indian Child Welfare Act, he nonetheless wrote separately. The opinion ran 34 pages. Gorsuch wrote 38.

High-profile issues weren’t the only reason the Supreme Court was in the news this term. A series of stories questioned the ethical practices of the justices, most notably of Justice Clarence Thomas but also Justice Samuel Alito. Investigative news site ProPublica detailed in a series of stores lavish trips and other gifts provided to Thomas by Republican megadonor Harlan Crow.

Both Thomas and Alito strenuously denied they had done anything wrong. But the stories led to calls from Democrats in Congress in particular for reforms and more transparency. Republicans made clear they oppose the effort. In May, Roberts said without offering specifics that there is more the court can do to “adhere to the highest standards” of ethical conduct.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

‘Watch Me’: Joe Biden dismisses concerns over his age, intends to run again for US President

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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US President Joe Biden intends to seek re-election in 2024, but has not made the decision “firmly.” Joe Biden, 80, is already the oldest president in American history. Dismissing concerns about his age, Biden referred to his performance in the State of the Union address on Tuesday.

“Watch me. It’s all I can say,” Biden said on Wednesday in an interview on PBS Newshour.

Biden is yet to announce a re-election bid and many including members of his own party feel he should step aside in 2024 due to his age. The US President is facing calls for a new generation of leadership.

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A majority of Democrats feel that he shouldn’t run again, according to an Associated Press-NORC poll.

“I haven’t made that decision. That’s my intention, I think, but I haven’t made that decision firmly yet,” Joe Biden said in the interview.

He added that he would be completely honest with the American people if there was any health problem or anything that would keep him from doing his job.

Biden’s State of the Union speech is being seen as a soft launch for his re-election run. He has touted the achievements of his first term, including low unemployment and passage of climate, health and infrastructure laws and bolstering the middle class while holding technology giants, oil and pharmaceutical companies to account.

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“It goes from one extreme to another, last night I heard people saying, ‘Well, just watch Biden, by God, age is not an issue anymore,” Biden said in the interview.

However, Biden will have to confront a major vulnerability in his re-election campaign as polls show voters are giving him little credit for the achievements of his administration. According to a Washington Post-ABC News survey, over six out of 10 Americans do not believe he accomplished much in his first two years in office.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US President’s State of the Union Speech — what is it, its significance and history

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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United States President Joe Biden will address both chambers of the Congress — the House of Representatives and the US Senate — on February 8. The annual speech, known as the State of the Union Address, will see Biden talk about the state of the country’s economy and what his administration has managed to achieve in the past year.

With the US staring at a recession and Biden continuing to get a low approval rating, the address will give him an opportunity to highlight all the good that he’s managed to achieve.

“Next week, I’ll be reporting on the State of the Union. But today, I’m happy to report that the state of the Union and the state of our economy is strong,” the US President said on Friday after a positive US jobs report.

What is the State of the Union Address?

The State of the Union Address is part of the US President’s constitutional duties to keep the US legislative branches abreast of the current situation of the country. The speech has information about the nation’s budget, economy, news, agenda, progress, and achievements of the current administration. The speech also contains information about the legislative priorities of the president for the coming year.

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The responsibility is enshrined in Article II, Section 3, Clause 1 of the US Constitution. “He (the president) shall from time to time give to Congress information of the State of the Union and recommend to their Consideration such measures as he shall judge necessary and expedient,” reads the article.

What are its significance and history?

The practice of delivering the address was started by the country’s first President, George Washington. The practice was continued by his successor, John Adams, who also gave the US Congress a joint address. The practice of giving the address in person was discontinued by the country’s third President, Thomas Jefferson, who found the practice too similar to the British monarchial traditions. Jefferson and subsequent presidents would instead send a written State of the Union report to the US Congress.

It was only in 1913 when Woodrow Wilson delivered the speech that the practice of the president addressing the two chambers of Congress personally was revived. In 1922, President Warren Harding’s speech was the first to be broadcast on radio but not across the nation. President Calvin Coolidge’s 1923 speech was the first to be broadcast across the country. Two decades later, President Harry S. Truman’s 1947 speech was the first to be broadcast on television.

In contemporary times, the address is used by the president to set the tone for his political agenda for the coming year. The address, as is the case with most political theatres of its kind, also provides insights into the political situation at the top level. The event is also the time when the president has the most attention so it can serve as an important milestone for presidents to highlight their achievements and progress.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US State of the Union Address — here are the longest and shortest speeches

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The State of the Union (SotU) Address is one of the United States’ most prominent democratic traditions. This address is delivered by the President of the country to both chambers of the Union States Congress — the House of Representatives and the Senate. The address is an opportunity for the head of state to raise consequential issues facing the nation and potential legislative and policy approaches to solving them.

Over the years, the length of the address has varied depending on the speaker, the time, and the challenges the country was then facing.

The long and short of it

The shortest-ever written State of the Union Address was also the first in the history of the nation. It was delivered by George Washington in 1790. The written address was delivered to gathered representatives and senators in Federal Hall in New York City. Although his address covered topics such as foreign policy, economy, education, immigration, and defence, it was wrapped up in only 1,089 words.

The shortest spoken address, on the other hand, was delivered by Richard Nixon in 1972. Nixon spoke for just under 29 minutes. He called for political unity and focused on appealing to American ideals and values. He had also called on the Congress to act on legislations such as Welfare Reform.

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The longest-written State of the Union address was served by James Carter in 1981. It was 33,667 words long. He recounted the various achievements of his government, speaking of energy, women’s empowerment, advancements in trade, and policy measures taken to help minorities. Carter also wrote about the Iran Hostage Crisis, unemployment, and recovery from the recession.

The longest-spoken State of the Union address was by Bill Clinton in 1995. This speech was almost an hour and 29 minutes long. Clinton discussed health, education, the global economy, crime, technology, and the environment in the address.

The State of the Union used to happen in December until the ratification of the Twentieth Amendment in 1933. This amendment resulted in congressional and presidential terms beginning in January, thus pushing the State of the Union to January or early February.

United States President Joe Biden is set to deliver his third State of the Union address on Wednesday, February 8, at 7.30 am IST. Biden is looking at unimpressive approval ratings and tensions in the House, where the Republicans currently hold a slim majority. Biden will broach the subject of infrastructure and the economy in the aftermath of the US only barely managing to avoid a recession. The State of the Union address will be an opportunity to highlight the successes his government.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Meet Nikki Haley, the Indian-American running for US President

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Former South Carolina Governor Nikki Haley launched her US presidential campaign for the 2024 elections, against her one-time boss Donald Trump. “I’m Nikki Haley, and I’m running for President,” she announced in a video message.

“It’s time for a new generation of leadership – to rediscover fiscal responsibility, secure our border, and strengthen our country, our pride and our purpose. Some people look at America and see vulnerability. The socialist left sees an opportunity to rewrite history,” she said while identifying herself as proud daughter of Indian immigrants.

Haley, 51, served as South Carolina’s governor for six years prior to serving as former President Donald Trump’s ambassador to the United Nations. She will be the first contender to join the contest against Trump, who is currently the sole Republican seeking his party’s 2024 nomination.

Who is Niki Haley?

Born as Nimrata Nikki Randhawa in 1972 in Bamberg, South Carolina, Niki Haley is the daughter of two immigrants from Punjab.

Her father was a professor at Punjab Agricultural University, and her mother earned a law degree in India. They both moved to South Carolina in 1969, where they had extensive teaching and business careers.

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Haley’s mother started a gift and clothing boutique, Exotica International, in 1979, where Haley started helping with accounting at the age of 13, South Carolina daily The Times and Democrat reported.

She returned to the company as the chief financial officer after her graduation from Clemson University, as per the Seattle Times.

Haley was named as a board member of the chambers of commerce in Orangeburg County and Lexington and she was the president of the National Association of Women Business Owners from 1998 to 2004.

In 2004, Haley came in second in the primaries in the run for South Carolina’s House of Representatives, but she won in a runoff after her incumbent opponent couldn’t secure a majority. She then ran uncontested in the following general elections.

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She was elected as the governor of South Carolina in 2010. She was the youngest governor in the country when she took office in January 2011 at the age of 32. She was also the first female governor of South Carolina and the state’s first Asian-American governor and would go on to serve three terms in total.

Haley pledged to crack down on illegal immigration, signing a bill that required police to check the immigration status of anyone they stop and suspect.

She received national attention in 2015 when she signed a bill into law removing the Confederate battle flag from the grounds of the South Carolina state capitol, following the murder of nine black churchgoers by white supremacists.

She also signed a law in 2016 banning abortions after 20 weeks of pregnancy.

Haley’s history with Trump has not been smooth as the two have exchanged harsh words.

Meanwhile, Trump has appeared less concerned with Haley’s 2024 run and is rather focused on the looming threat of Florida Gov. Ron DeSantis’ bid for the presidency, Business Insider reported. DeSantis has not declared his run yet, but he has expressed his interest.

Haley is married to Michael Haley, a National Guardsman who served as an officer in Afghanistan. The couple has a daughter, Rena, and a son, Nalin.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow