Ishiba on US Steel Acquisition Rejection: "US Must Clearly Explain National Security Concerns"

Japanese Prime Minister Shigeru Ishiba expressed regret over U.S. President Joe Biden's decision to block Nippon Steel's acquisition of the American steel company US Steel, stating, "It is unfortunately true that voices of concern about future Japan-U.S. investment are emerging within the Japanese industrial sector," and added, "We have no choice but to take this matter seriously," according to reports from Kyodo News and Fuji News Network (FNN) on the 6th.

Regarding the U.S. citing national security concerns as the reason for opposing the acquisition, Prime Minister Ishiba said, "If the U.S. side cannot clearly explain why there are national security concerns, further discussions cannot proceed," and emphasized, "Even though we are allies, this issue is very important for future relations." He also added, "We will strongly demand that the U.S. government take measures to dispel these concerns."

Shigeru Ishiba, Prime Minister of Japan. Photo by AP Yonhap News

원본보기 아이콘

On the same day, Prime Minister Ishiba visited Ise Jingu Shrine in Ise City, Mie Prefecture, and held a New Year's press conference. When asked about the US Steel acquisition, he stated, "It is inappropriate for the Japanese government to comment on individual corporate management matters under review according to U.S. domestic law, so I will not comment," conveying this position.

Regarding a meeting with President-elect Donald Trump, who is set to take office on the 20th, he said, "It has not yet been confirmed," and added, "We are coordinating to realize it at the most appropriate time and in the appropriate form."

Concerning North Korea's ballistic missile launch on the same day, he expressed, "We have serious concerns about this matter," and stated, "We must work to strengthen deterrence. We intend to approach this with heightened vigilance."

Meanwhile, Ise Jingu Shrine enshrines Amaterasu Omikami, the ancestral deity of the Japanese imperial family, and is considered a sacred site for Japan's conservative faction. Prime Minister Ishiba visited Ise Jingu for the first time since taking office in October last year.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.