US President Joe Biden's rejection of Nippon Steel's bid for US Steel complicates Secretary of State Antony Blinken's farewell trip to Japan. While Japan's Prime Minister calls the decision 'perplexing', analysts believe the shared security concerns about China will limit damage to the US-Japan relationship.
US President Joe Biden ’s decision to block Nippon Steel ’s \$14.9 billion bid for US Steel cast a shadow over Secretary of State Antony Blinken ’s visit to Japan on Tuesday for farewell meetings with Washington’s most important ally in Asia.
The rejection, announced on Friday, has jolted US efforts to boost ties just as neighboring South Korea’s political crisis potentially complicates a deepening trilateral relationship between Washington, Seoul and Tokyo formed to counter China’s growing military power. On Monday, Japanese Prime Minister Shigeru Ishiba described Biden’s decision to block the sale of US Steel to Nippon Steel as “perplexing”. While Japanese investment into the US could also be chilled, analysts say that given the two countries’ shared security concerns about China, any damage to their wider relationship will probably be limited amid political transition in the US where Donald Trump becomes president on Jan. 20.Accompanied by White House National Security Adviser Jake Sullivan, Blinken met Japan’s Foreign Minister Takeshi Iwaya in Tokyo followed by meetings with other senior Japanese officials including Ishiba. Seven trips to Japan over the last four years “is evidence not just of the importance, but of the centrality the United States attaches to our partnership. President Biden asked me to come on this last trip to underscore that,” Blinken told Iwaya. “We have, between our two countries, a partnership that started out focusing on bilateral issues, that worked on regional issues and that now is genuinely global,” he added. Ahead of his trip, the State Department said that Blinken wanted to build on the momentum of US-Japan-South Korea trilateral co-operatio
US-Japan Relations Nippon Steel US Steel Joe Biden Antony Blinken
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden's Steel Block Casts Shadow on Blinken's Japan VisitPresident Biden's decision to block Nippon Steel's bid for U.S. Steel creates a diplomatic challenge for Secretary of State Blinken's visit to Japan, amid ongoing efforts to strengthen US partnerships in Asia.
Read more »
Biden Blocks US Steel Sale to Japan's Nippon SteelPresident Biden has decided to block the $14.1 billion acquisition of US Steel by Japan's Nippon Steel, citing national security concerns.
Read more »
Biden blocks Japan's Nippon Steel from acquiring U.S. SteelSteve Kopack is a producer at NBC News covering business and the economy.
Read more »
Biden blocks U.S. Steel takeover by Japan's Nippon Steel, citing national securityU.S. Steel’s stock dropped by nearly 8% in premarket trading Friday following the president’s announcement.
Read more »
Biden Blocks $14.9 Billion U.S. Steel Takeover by Japan's Nippon SteelPresident Joe Biden has blocked the proposed $14.9 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns and the risk of placing a major U.S. steel producer under foreign control. Biden's decision comes after a months-long review by the Committee on Foreign Investment in the United States and reflects a growing trend of protectionism in the U.S.
Read more »
Biden Blocks Japan's Nippon Steel Acquisition of U.S. SteelPresident Biden blocked Nippon Steel's acquisition of U.S. Steel, citing credible evidence of national security threats. A White House committee determined the deal posed risks to national security and supply chains. The move faced immediate opposition when announced in 2023, particularly in the Rust Belt.
Read more »