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Steel Giant Slams "Inappropriate" Political Interference

The Japanese steel giant Nippon Steel expresses strong criticism, after Bloomberg reported source information that the US President Joe Biden plans to block the company's acquisition of American US Steel.

» Published: 11 December 2024

Steel Giant Slams "Inappropriate" Political Interference
Photo: Ayaka McGill/AP/TT

"It is inappropriate that politics continues to weigh heavier than national security interests, especially considering how fundamental the alliance between the USA and Japan is", says Nippon Steel in a statement early on Wednesday morning.

Hours after Bloomberg's article, a spokesperson for the White House said that Biden is waiting for the authority CFIUS to complete its review of the deal before a decision is made.

It was in December last year that US Steel entered into an agreement for Nippon Steel to buy the company for approximately 165 billion kronor.

Since then, Biden, who has said he is against the acquisition, has been pressured to put a stop to it. Last week, Donald Trump announced that he will put a stop to the deal when he takes office.

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By TTThis article has been altered and translated by Sweden Herald

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