Japan Prime Minister Shigeru Ishiba asked US President Joe Biden to alleviate concerns over the planned acquisition of US Steel by Nippon Steel. The request came during a three-way online meeting with Biden and Philippine President Ferdinand Marcos Jr, which focused on economic security and maritime security in the South China Sea.
Ishiba emphasized the importance of cooperation among allies to establish resilient supply chains and ensure companies can invest with confidence for economic growth. He specifically mentioned the Nippon Steel-US Steel deal, which has been delayed until June by the Biden administration after the president blocked it on national security grounds in January.
The delay was made to address concerns about the acquisition’s impact on national security. Ishiba hopes that easing these concerns will promote further cooperation and investment between Japan and the US.
Source: https://www.reuters.com/markets/deals/japan-pm-asks-biden-allay-business-community-concern-over-status-nippon-steel-us-2025-01-13