Official statements or press releases from the CEO of U.S. Steel

Japan PM Ishiba Urges Biden to Address Concerns Over US Steel Acquisition, Following Halt Order

Jan 13, 2025, 12:22 AM

Japanese Prime Minister Ishiba has formally expressed concerns to U.S. President Biden regarding the proposed acquisition of U.S. Steel by Nippon Steel. This marks the first direct communication from Ishiba to Biden on the matter, as the Japanese government seeks to alleviate worries within the business community about the potential implications of the acquisition. The request comes in light of a recent order from Biden to halt the acquisition, which has drawn criticism from U.S. Steel's CEO, who condemned the decision as a 'shameful act of corruption' that jeopardizes the future of the company, its workers, and national security. The CEO also accused the decision of insulting Japan and threatening U.S. competitiveness.