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Japan PM asks Biden to allay concerns over Nippon Steel-US Steel deal
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Japan PM asks Biden to allay concerns over Nippon Steel-US Steel deal
Jan 12, 2025 7:15 PM

TOKYO, Jan 13 (Reuters) - Japan Prime Minister Shigeru

Ishiba asked U.S. President Joe Biden to allay concerns in the

Japanese and U.S. business communities over the status of Nippon

Steel's ( NISTF ) planned acquisition of U.S. Steel.

Ishiba made the request in a three-way online meeting with

Biden and Philippine President Ferdinand Marcos Jr. on Monday,

which covered issues of economic security and cooperation in

maritime security in the South China Sea, according to a

spokesman from Japan's Ministry of Foreign Affairs.

"Prime Minister Ishiba pointed out that cooperation among

allies and like-minded countries is indispensable for

establishing resilient supply chains, and that it is important

to make efforts to ensure that companies can invest with peace

of mind in order to promote economic security," he added.

The spokesman confirmed that Ishiba mentioned the Nippon

Steel-U.S. Steel deal in particular.

The Biden administration has delayed until June an order for

Nippon Steel ( NISTF ) to abandon its $14.9 billion bid for U.S. Steel,

the companies said on Saturday, after the president earlier

blocked the acquisition on national security grounds on Jan. 3.

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