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Blinken Reassures Japan of Strong Alliance Amid $14.1 Billion U.S. Steel Acquisition Block by Biden

Jan 7, 2025, 06:24 AM

U.S. Secretary of State Antony Blinken met with Japanese Foreign Minister Takeshi Iwaya and Prime Minister Shigeru Ishiba in Tokyo to discuss bilateral relations amid tensions over President Joe Biden's decision to block the $14.1 billion acquisition of U.S. Steel by Japan's Nippon Steel. Blinken emphasized the strength of the U.S.-Japan alliance, noting his visits to Japan seven times over the last four years. The meeting comes as President-elect Donald Trump is set to take office in two weeks, and Blinken sought to reassure Japan of the continued robustness of their alliance. Iwaya expressed his commitment to elevating the Japan-U.S. alliance to new heights, while also voicing disappointment over the U.S. decision to block the Nippon Steel acquisition, citing national security concerns. Nippon Steel CEO Eiji Hashimoto criticized the decision as politically motivated and illegal, and a lawsuit has been filed against the Biden administration's intervention. The issue has raised concerns within Japan's industrial sector about future investments in the U.S.