Editorial

16:47 JST, January 5, 2025

In an extremely unusual situation, the U.S. president has used his authority to block the planned purchase of a U.S. company by a company from Japan, which is a U.S. ally. This decision is unacceptable, as it opens the door to problems in Japan-U.S. relations.

U.S. President Joe Biden has issued an order to block Nippon Steel Corp.’s planned acquisition of major steelmaker United States Steel Corp. Biden said in a statement, “A strong domestically owned and operated steel industry represents an essential national security priority.”

While such orders have often been issued targeting Chinese companies in the past, this is reportedly the first time for a Japanese company to be targeted.

During the review process by the Committee on Foreign Investment in the United States (CFIUS), an argument is believed to have been presented........

© The Japan News