By David Brunnstrom, Simon Lewis, Trevor Hunnicutt and Tim Kelly WASHINGTON/TOKYO (Reuters) -U.S. President Joe Biden's decision to block Nippon Steel's $14.9 billion bid for U.S. Steel cast a shadow over Secretary of State Antony Blinken's visit to Japan on Tuesday for farewell meetings with Washington's most important ally in Asia.
It’s not too late for our judicial system to intervene and do what’s right for the American people and our allies.
US Secretary of State Antony Blinken insisted during a visit to Tokyo on Tuesday that ties with Japan were stronger than ever, days after President Joe Biden blocked Nippon Steel's takeover of US Steel.
Japan’s largest steelmaker said that it would not give up trying to purchase U.S. Steel even after President Joe Biden blocked the $15 billion bid last week.
Foreign Minister Takeshi Iwaya expressed “deep disappointment” to a top U.S. official over President Joe Biden’s decision to stop Nippon Steel Corp. from acquiring U.S. Steel.
Senior administration officials had reservations about calling Nippon Steel’s takeover proposal a “national security risk.”
The U.S. has blocked Nippon Steel's $14.9 billion bid for U.S. Steel, affecting Secretary of State Antony Blinken's visit to Japan. Although the decision may chill foreign investment, U.S.-Japan relations are expected to maintain strength due to mutual security concerns about China.
Despite Japan's perplexity over President Biden's decision to block Nippon Steel's merger with U.S. Steel, Japan and the U.S. reaffirm their strong ties. Economic collaboration remains a priority amidst political shifts and security concerns involving China and North Korea.
The Biden administration delayed until June an order for Nippon Steel to abandon its $14.9 billion bid for U.S. Steel , the companies said on Saturday, giving them some time to revive the politically contentious deal.