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Japan PM Ishiba Urges Biden to Approve Nippon Steel's $X U.S. Steel Acquisition

Nov 26, 2024, 01:07 PM

Japanese Prime Minister Shigeru Ishiba has urged U.S. President Joe Biden to approve Nippon Steel's acquisition of U.S. Steel. In a letter sent on November 20, Ishiba emphasized that the deal would enable Japanese and U.S. steel companies to combine advanced technologies and enhance competitiveness. The move is seen as critical to strengthening economic ties between Japan and the United States. According to sources, Ishiba's appeal also aims to avoid undermining recent efforts to bolster bilateral relations. The U.S. Steel company is traded under the ticker symbol $X.