Editorial
14:29 JST, September 9, 2024
U.S. President Joe Biden reportedly plans to block the planned acquisition of steel giant U.S. Steel Corp. by Nippon Steel Corp. for security reasons. This would be an incomprehensible decision against Japan, a U.S. ally.
Nippon Steel announced in December a plan to acquire U.S. Steel for about ¥2 trillion.
The U.S. government’s Committee on Foreign Investment in the United States reportedly plans to recommend that the acquisition plan not be approved, after conducting a review and concluding the plan would create insurmountable national security risks.
In the past, most such recommendations have been made against Chinese companies, and this is believed to be the first such recommendation for a Japanese company. Biden is........