Japan PM Urges Biden To Address Issues Over U.S. Steel Deal

Japanese Prime Minister Shigeru Ishiba has urged U.S. President Joe Biden to address concerns in business circles arising from the blocking of a takeover of United States Steel Corp. (U.S. Steel) by Japan’s Nippon Steel Corp.

Ishiba stated that Japan, as a longstanding U.S. security ally, seeks clarification regarding the decision. I Photo: Prime Minister’s Office of Japan X 

Ishiba emphasized that maintaining an investment-friendly environment is essential for allies and partners to ensure economic security, the Associated Press (AP) reported. Biden’s decision to block the U.S. Steel acquisition on national security grounds has caused unease in Japanese business circles.

Ahead of the virtual meeting, Ishiba stated that Japan, as a longstanding U.S. security ally, seeks clarification regarding the decision.

During the 25-minute discussion, Ishiba highlighted the importance of collaboration among allies to establish resilient supply chains and foster an environment conducive to investment, according to Japan’s Foreign Ministry.

The meeting occurred just days before U.S. President-elect Donald Trump is set to take office on Jan. 20, succeeding Biden. In his final months in office, Biden hosted the first-ever trilateral summit between the U.S., Japan, and the Philippines in April last year.

The three leaders recently reaffirmed their commitment to countering economic coercion and unilateral attempts to alter the status quo by force, the ministry said—an apparent reference to China.