Japanese PM Ishiba calls U.S. block on Nippon Steel acquisition 'unjust'

Japanese Prime Minister Slams US Block on Nippon Steel Acquisition

TOKYO, Aug. [Current Date] - Japanese Prime Minister Shigeru Ishiba condemned the decision by the Committee on Foreign Investment in the United States (CFIUS) and former President Joe Biden to block Nippon Steel's acquisition of U.S. Steel.

Ishiba characterized the move as "unjust political interference." The Prime Minister emphasized the importance of fair trade practices and expressed his disappointment in the US government's actions.

The CFIUS, which reviews foreign investment in the US to assess national security risks, recommended blocking the deal in 2021. Then-President Biden followed their recommendation, citing concerns over sensitive technology and supply chain security.

Nippon Steel, one of Japan's largest steel producers, has yet to comment on the matter.

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Japanese PM Ishiba calls U.S. block on Nippon Steel acquisition 'unjust'

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