Japan is directing strong criticism at Joe Biden after the American president decided to stop the multi-billion deal where the steel company US Steel was intended to get a Japanese owner.
"It is incomprehensible and regrettable that the Biden administration has made this type of decision with reference to national security", writes Japan's industry minister Yoji Muto in a statement to AFP on Saturday.
Biden announced the stop of the deal on Friday and cited precisely "a threat to national security" as a main reason.
The deal where Japanese Nippon Steel would buy up US Steel for approximately 165 billion Swedish kronor was announced already in December 2023. However, the news has sparked strong resistance from several quarters, primarily American trade unions that have urged the president to stop the takeover.
