Starmer’s Emergency Bill Explained

Congratz!

Now we have to save the country

What will keep it from failing again?

CCP owns British steel? Interesting

Gives you the feeling that being Conservative means selling off everything you have and another odd feeling that that's quite often a bad idea.

The American iPhone will cost $10,000
Trump is a pea brain who doesn't understand anything.

I mean, selling our steel to a dictatorship who would like to see everyone buy their steel instead of our steel wasn’t the dumbest thing Boris Johnson did as PM, but it was pretty obviously a dumb idea.😂

We'll have to see whether Starmer has saved British Steel. It seems likely at this point, but under public ownership and losing money.

Ironically, the company's commercial prospects are looking more positive in the wake of Trump's tariffs, if we assume they will stay in place for the long term. Steel is one of the few industries in the USA that might survive the new taxes, but even so production will fall and American steel will become much more expensive.

To the extent the global economy survives and still has demand for steel, other countries will have to fill the gap in production. The two main areas are China and Europe, but I also expect to see more from other economies such as India and Australia.

All other things being equal, we would expect Jingye to seek to maximise their profits. As the US loses its steelmaking capacity, American companies will prefer to pay a 10% tariff on steel made in Britain rather than 25% from the EU or however many hundreds of percent it is from China. So in the new world of arbitrary trade distortions, a currently loss-making business could become profitable, and even save Jingye from a nasty financial hole.

We can see all things are not equal by the unseemly haste in closing down the plants. Jingye must be making bigger losses by dumping coke and ore at fire-sale prices than it would by turning them into steel, so there must be another motive besides money. Of course the other reason has to be the coercive power of the Chinese government. So the real question is why the CCP wants to shut down British Steel.

One obvious reason is simply to reduce global steel production. When the global economy crashes and steelworks must close, better for foreigners than Chinese workers to lose their jobs. More specifically, the favourable tariff position that makes British Steel more attractive to Jingye's bottom line also undermines China's position in its trade war with the US. If American manufacturers can buy steel from Britain, they don't need to worry about how high the tariffs are on Chinese steel, and that would in theory make a difference when they are deciding which political campaigns to finance.

And there may be another motive: Xi Jinping's own personal brand of soft power revolves around threats, hostage-taking, and other forms of bullying. He might want to damage another major economy purely to set an example that he is willing and able to engage in economic warfare however much it costs his own country.

Wow. These people who make such a big fuss about rights and freedoms vote in a President who refuses entry to TOURISTS AND ACADEMICS for criticising him.

We need a Department of Private sector Efficiency. To insure reinvestment and cut wasteful spending and fraud. Call it "DOPE"

Port Talbot is allowed to die, but all the stops are pulled out to save Scunthorpe. I wonder why 🤔🤔🤔

If steel production in the UK isn't profitable due to high energy price and workers wage, then let the market forces decide.
If steel is seen as critical infrastructure, then the gov should step up and take full ownership.
What has happened is gov wanting the best of both worlds, and end up getting the worst of both worlds just like Water and Rail.
I'm tired of hearing another crisis of British Steel ever 3-5 years. Even if another company takes over, we will be back to square one again in 5 year's time.
Take full ownership or shut down, no middle option.

At that point they should just nationalize. You're already nationalizing the costs by bailing them out (which imo is necessary), might as well nationalize the profits too so that it's less of a drain on taxpayers.

As an American, I’d normally say that decoupling our industry from China is something that really needs to be done.
Having so much of our imports coming from and our manufacturing outsourced to an oppressive communist dictatorship is not a good idea.
Unfortunately, Trump (to no one’s surprise) is doing it in the absolute worst, most self-destructive manner possible.

That sounds like communism

Breaking news : Donald Trump has u-turned on a u-turn that he only just made. Stay tuned for further updates...

Vance didn’t “attack European democracy”, he attacked Europe’s failure to uphold it…

Can't wait for TLDR Global to get to a million subscribers so yall can say your thank you message in the thousands of languages of the world

Congrats on the 1M!

One million!

The EU was established to create a larger market that could compete with the US on the global stage by leveraging the entire block as one. So, in that sense, it basically was created to "screw the US". Just not overtly. 🙂

If British still wishes to keep running, they really need to update their production process. These are going to age out before too much longer anyway. So the only way to save the plant, long term, is with a very large investment so they can operate at lower cost.

Steel important in defense industry it's not about revenues

Reform, a far right party, wants the nationalization of an industry?!

Have they always been pro nationalization? Not that it forgives their other positions but still that could actually be a positive step if well managed

It's not profitable to run the steel mills. Don't know how the UK can keep them going long term without nationalization.

Nationalising companies is against the principles of democracy and a free market economy. The UK is heading towards socialism and communism with the British government already controlling railways, postal services, military and more. All these need to be privatised. Only a military intervention can now save British democracy.

Damn kinda glad I got my phone busted and replaced last month

Smells like socialism to me.

I don't know if this is a big anough news for a TLDR Daily but could you talk about The questionnaire the american embassy in Portugal is sending to multiple companies and universities about “climate agendas”, "DEI", “contacts with communist and socialist parties” and relations with the UN, China, Iran and Russia, among many others

The UK government did what France didn't do back in 2013 when ArcelorMittal closed most of its site of Haiéngen (Mosellothingen), killing the last still perfectly working blast furnace of the state.

This is getting ridiculous. How are companies supposed to plan when Trump is flipping around like a fish out of water? Companies are better off simply planning to avoid the US altogether. Sadly, our domestic industries don't have that option. I suppose they just get to go out of business instead.

Good for Britain

Scunthorpe? I was stationed around Scunthorpe.

No he killed it

Incorrect statement about the EU.

seems weird that the administration cant seem to work together. maybe its a planned opullback but it js seems like incompetence

1 million, FINALLY

You could say that the UK is “BACK IN CONTROL” of their steel.

Being a Chinese immigrant to the US, I agree that every major country should maintain a baseline level of strategic industries. Noy being able to produce steel almost guarantee a swift defeat in any war, a blocade or embargo.

Americans have government cheese. British will have government steel.

A shame the same couldn’t have been achieved with Port Talbot Steelworks but I suppose that’s what you get when the Tories are in charge

So Drumpf flip flopped yet again? 🙄
Thats... not actually a surprise at all

Keir Starmer has saved the World

Congratulations on 1Mio. Subs

Did he "save" the steel or simply delay the inevitable?

This is a smart choice from labour as it was a big talking point that reform was pushing, and it is very popular among the general public

Donald Trump's "stick to a decision for more than a week" challenge continues to go poorly for him.

Starmer is so weak. Bailing out a private company and not nationalize it only allows the owners to continue to pocket the profits for themselves and not reinvest it into the company/employees. Only now they’re using taxpayer money to enrich themselves. Redistribution of wealth from the bottom up.

Congratulations TLDR for 1 million subs! :D my number one news source