The hidden hand

The Japanese steelmaker already controlling US rail

Nippon Steel owns 100% of forged wheel production for American freight rail—yet regulators only objected when it tried to buy a general steel company.

The number

100% of US forged rail wheel supply

Nippon Steel has wholly owned Standard Steel LLC since 2012, the sole producer of forged steel wheels for US freight railcars and locomotives—a monopoly approved without objection. The Biden administration blocked the same company's $14.9 billion bid for US Steel on national security grounds, citing fears of foreign control over domestic steel production.

Source: Future Looks Bright for Standard Steel · Forging Magazine · Jan 1, 2012