Japanese PM asks Biden to ease concerns over Nippon Steel-US Steel deal By Reuters
By Kevin Buckland and Kiyoshi Takenaka
TOKYO (Reuters) – Japanese Prime Minister Shigeru Ishiba has asked U.S. President Joe Biden to ease the concerns of Japanese and U.S. businessmen about the status of Nippon Steel’s planned acquisition of U.S. Steel.
Ishiba made the request in a three-way online meeting with Biden and Philippine President Ferdinand Marcos Jr. on Monday, which included issues of economic security and maritime security cooperation in the South China Sea, according to a spokesman for Japan’s Foreign Ministry. .
“Prime Minister Ishiba pointed out that cooperation between allied countries and like-minded countries is important in establishing strong chains, and it is important to make efforts to ensure that companies invest with peace of mind to improve economic security,” it added.
A spokesperson confirmed that Ishiba spoke specifically about the Nippon Steel-US Steel deal.
The Biden administration has delayed until June an order for Nippon Steel to divest its $14.9 billion stake in US Steel, the companies said Saturday, after the president previously blocked the purchase on national security grounds on January 3.
