Since before the U.S. election in early November, the case of Nippon Steel (Nippon Steel) seeking to acquire the U.S. steel giant US Steel (US Steel) has attracted great attention in the U.S. political arena. Candidates from both parties have taken this issue. expressed objection. Japan's "Kyodo News" reported on Wednesday (November 11) that Japanese Prime Minister Shigeru Ishiba has sent a letter to U.S. President Joe Biden hoping that he will approve the plan.
"Kyodo News" cited a report from "Reuters" that Ishiba sent a letter to Biden last Wednesday (20th) to emphasize that "Japan is the largest investor in the United States" and the contribution of Japanese companies to the U.S. economy. He clearly hopes that Biden will The Biden administration approved the acquisition plan to avoid "overshadowing" the results of Biden's term. Ishiba also emphasized that driven by the Biden administration, the Japan-US alliance has become unprecedentedly strong.
It is reported that Nippon Steel announced in December last year that it would spend approximately US$12 billion to acquire U.S. Steel, but the United Steelworkers (USW) expressed opposition due to concerns about future employment issues. Before the presidential election in November this year, Biden, Democratic presidential candidate Kamala Harris and Republican presidential candidate Donald Trump all expressed their opinions on the case.opposition.
The Committee on Foreign Investment in the United States (CFIUS), which is responsible for reviewing the acquisition, has now allowed Japan Steel to apply for acquisition review again and extended the deadline to continue the review after late December this year. The purpose of Ishiba's letter may be as early as January next year. Before the Trump administration took office, it prompted relevant US authorities to make progress in reviewing the acquisition.
