US Opposition to Nippon Steel Deal Raises Concerns in Japan

Shigeru Ishiba, a leading candidate for Japan’s next prime minister, expressed significant concern over the potential U.S. government move to block Nippon Steel’s $15 billion acquisition of U.S. Steel on national security grounds. He described such actions as “very unsettling” and warned that they could undermine trust between the U.S. and Japan.

Reports suggest that the White House is nearing a decision to block the deal, citing potential risks to the supply of steel essential for critical U.S. projects. A letter from the administration indicated that the acquisition might make U.S. Steel less inclined to pursue tariffs on foreign steel imports.

Ishiba criticized the U.S. stance, stating, “Recently the U.S. is tending to impose deals and threats even on its allies,” questioning the fairness of this approach. He emphasized the need for Japan to engage in sincere and logical discussions regarding such matters.

Another candidate for the leadership of Japan’s ruling Liberal Democratic Party, digital minister Taro Kono, also commented on the situation, expressing surprise that the deal would raise national security concerns. He stated that he would address the issue with the White House if elected prime minister, highlighting the broader implications of the situation beyond just the acquisition.

US Opposition to Nippon Steel Deal Raises Concerns in Japan
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