Members of Prime Minister Shigeru Ishiba’s Cabinet Criticize U.S. Decision to Block Nippon Steel’s Buyout of U.S. Steel

The Yomiuri Shimbun

13:29 JST, January 8, 2025

Members of Prime Minister Shigeru Ishiba’s Cabinet criticized U.S. President Joe Biden’s order to block Nippon Steel Corp.’s planned acquisition of major steelmaker U.S. Steel Corp. at a press conference held on Tuesday.

Chief Cabinet Secretary Yoshimasa Hayashi said, “It is regrettable that the negative decision was made on the grounds of national security concerns.” He added that there are concerns among the business community about investment in the United States and said that Japan would ask the U.S. government to take action to allay such concerns. He also stressed that “we will convey the importance of Japanese companies being able to invest in the United States with peace of mind” to U.S. President-elect Donald Trump.

Economic Revitalization Minister Ryosei Akazawa said, “We need the U.S. government to carefully explain why there are security concerns.”

Economic Security Minister Minoru Kiuchi made an appeal as well, saying, “Japan is the largest investor in the United States and has contributed to the creation of jobs.” Regarding the order, he said “[It is] very difficult to understand.”