Steel News

We strive to let you one step ahead of the market.

Nippon Steel criticizes Biden’s block in acquisition deal of U.S. Steel

6 Jan 2025 15:24 reported by Joy Liu

A A A
Nippon Steel criticized President Joe Biden's decision to block its US$15 billion acquisition of U.S. Steel over national security concerns, calling the move politically motivated. The company vowed to protect its legal rights and warned that the decision could deter allied nations from investing in the US.

Yoji Muto, Japan's Minister of Economy, Trade and Industry, called the decision regrettable and pledged to seek clarification from the Biden administration.

Both Japan’s Ministry of Economy, Trade and Industry and Nippon Steel argued the deal would sustain US steel production, employment, and technological collaboration between the two nations. Because of the growing concerns among Japanese industries about the future US-Japan investment environment, the Japanese government must take this matter seriously.

Back to Steel News

Related News

Steel market poises for recovery as trade & geopolitical risks ease

  • Industry Activities
  • 17 Feb 2025 11:21

US' tariff increase to cause American goods to rise

  • Industry Activities
  • 17 Feb 2025 11:21

ArcelorMittal considering moving some European operations to India

  • Industry Activities
  • 17 Feb 2025 11:07

South Korea's steel industry faces tariff pressure, plans overseas expansion

  • Industry Activities
  • 17 Feb 2025 11:01

Brazil's steel industry urges no retaliation against US' additional 25% tariffs

  • Industry Activities
  • 17 Feb 2025 09:44

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,843.00
  • 2,884.00
  • Aluminum
  • 2,660.00
  • 2,643.00
  • Copper
  • 9,810.00
  • 9,660.00
  • Nickel
  • 15,350.00
  • 15,565.00

Learn more

Coil Exchange Center

Learn more