Japanese Prime Minister Shigeru Ishiba expressed “strong concerns” to U.S. President Joe Biden regarding the blocking of Nippon Steel’s $14.9 billion acquisition of U.S. Steel, citing tensions raised in both countries. The comments came during a call that also included Philippine President Ferdinand Marcos, focusing on regional security and China’s actions in the South China Sea.
Biden had vetoed the deal earlier this month over national security concerns, sparking criticism from Japan, a key ally hosting 54,000 U.S. military personnel. Ishiba urged Biden to address concerns in both Japan and the U.S. business community.
The deal, originally announced in 2023, became a political flashpoint ahead of the U.S. presidential election. Both steel companies are pursuing legal action, accusing Biden of illegal interference.
Despite this dispute, Ishiba emphasized the importance of maintaining strong bilateral ties, with Japan being the largest foreign investor in the U.S., contributing $800 billion in 2023. On Monday, the three leaders also discussed trilateral maritime and economic cooperation, affirming their commitment to a “free and open Indo-Pacific.”
https://japantoday.com/category/politics/japan-pm-tells-biden-’strong’-concerns-over-steel-deal
