Japan Urges US to Address Investment Concerns after Steel Deal Block

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 73 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 54%
  • Publisher: 92%

International News Nachrichten

Japan,US,Investment

Japanese Prime Minister expresses worry about future Japanese investments in the U.S. following Biden's decision to block Nippon Steel's acquisition of US Steel.

TOKYO — Japan's prime minister on Monday urged Washington to dispel concerns that a decision by Joe Biden to block Nippon Steel's takeover of US Steel could impact future investments.The US President's announcement last week cited a strategic need to protect domestic industry, a move that drew sharp criticism from both companies and Tokyo.A US government panel had failed to reach consensus on whether the $14.

9 billion acquisition threatened national security, shifting the decision to Biden in the waning days of his presidency.Prime Minister Shigeru Ishiba said the veteran Democrat's decision had sparked worries over future Japanese investments in the world's largest economy. 'It is unfortunately true that there are concerns being raised within Japan's industrial world over future Japan-US investment,' Ishiba told reporters. 'It's something we have to take seriously.'Japan and the United States are each other's top foreign investors. 'It would be inappropriate for the Japanese government to comment on the management of an individual company that was under review as per US domestic law... but we will strongly call on the US government to take steps to dispel these concerns,' said Ishiba. 'They need to be able to explain clearly why there is a national security concern, or else further discussions on the matter will not work,' he added. 'Bold action' Nippon Steel reportedly plans to hold a news conference on Tuesday, when US Secretary of State Antony Blinken will also be visiting Japan following a trip to South Korea.Biden's decision followed extended wrangling over competing domestic political, economic and trade demands. The outgoing president — who made the rebuilding of the US manufacturing base a major goal of his administration — had criticized the deal for months while holding off on a move that could hurt ties with Toky

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 2. in CH
 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Biden Blocks US Steel Acquisition by Nippon SteelPresident Biden blocked the $15 billion acquisition of US Steel by Japan's Nippon Steel, citing national security concerns.
Herkunft: TheManilaTimes - 🏆 2. / 92 Weiterlesen »