UnHerd on Nostr: Biden's Nippon Steel decision will hurt US-Japan relations ========== On January 4, ...
Biden's Nippon Steel decision will hurt US-Japan relations
==========
On January 4, 2025, President Joe Biden blocked the $14.9 billion acquisition of US Steel by Japan's Nippon Steel, marking the first time a US president has halted a takeover by a Japanese firm. This decision has sparked shock and anger in Japan, with Economy Minister Muto Yoji calling it 'unfortunate and incomprehensible.' Nippon Steel condemned the block as 'unlawful' and claimed no credible evidence supported Biden's national security concerns. The CFIUS panel failed to reach a consensus on the deal, which some interpreted as a potential green light. Experts predict a decline in Japanese investment in the US, potentially impacting broader Asia-Pacific relations, especially with Donald Trump poised to return to the presidency. The decision evokes historical trade tensions reminiscent of the Nixon era and could signal a shift towards protectionist policies under the guise of national security.
#Biden #NipponSteel #UsSteel #Japan #Trump #TradeRelations #NationalSecurity #Investment #Politics #History
https://unherd.com/newsroom/bidens-nippon-steel-decision-will-hurt-us-japan-relations/
==========
On January 4, 2025, President Joe Biden blocked the $14.9 billion acquisition of US Steel by Japan's Nippon Steel, marking the first time a US president has halted a takeover by a Japanese firm. This decision has sparked shock and anger in Japan, with Economy Minister Muto Yoji calling it 'unfortunate and incomprehensible.' Nippon Steel condemned the block as 'unlawful' and claimed no credible evidence supported Biden's national security concerns. The CFIUS panel failed to reach a consensus on the deal, which some interpreted as a potential green light. Experts predict a decline in Japanese investment in the US, potentially impacting broader Asia-Pacific relations, especially with Donald Trump poised to return to the presidency. The decision evokes historical trade tensions reminiscent of the Nixon era and could signal a shift towards protectionist policies under the guise of national security.
#Biden #NipponSteel #UsSteel #Japan #Trump #TradeRelations #NationalSecurity #Investment #Politics #History
https://unherd.com/newsroom/bidens-nippon-steel-decision-will-hurt-us-japan-relations/