Japanese Minister of Economy, Trade and Industry “We will continue to demand explanations regarding the Biden administration”
Japan Steel and US Steel express strong regret in joint statement
The Japanese government said on the 3rd (local time) that it was “difficult to understand and regrettable” in response to U.S. President Joe Biden’s refusal to allow Japan Steel to acquire U.S. steel company US Steel.
According to NHK on the 4th, Japan’s Minister of Economy, Trade and Industry Yoji Muto said of President Biden’s decision to not allow the sale of US Steel, saying, “It is difficult to understand and regrettable that this decision was made due to national security concerns.”
Minister of Economy, Trade and Industry Muto also emphasized, “There are strong voices of concern about future U.S.-Japan investment in the economic circles of both countries, especially the Japanese industry, and the Japanese government has no choice but to take this seriously.”
He then emphasized, “We will ask the Biden administration to provide an explanation for this judgment and respond to dispel concerns.”
President Biden announced his decision to disallow the Japanese acquisition of US Steel.
President Biden said in a statement, “As a result of Japan Steel’s acquisition of US Steel, there is a possibility that they will take actions that threaten to undermine the national security of the United States.” “We need major companies that account for most of our capabilities,” he emphasized.
Japan Steel and U.S. Steel said in a joint statement, “We are disappointed with this decision, which was determined by President Biden’s political intentions.”
Both companies also said, “This is a violation of U.S. legal procedures and regulations,” and “We will pursue all measures to protect our legal rights.”
It is reported that Japan Steel plans to file a lawsuit against the U.S. government.
In a statement posted on his X, U.S. Steel CEO David Buritt said, “President Biden’s decision is shameful and corrupt,” and “it has harmed the future of our company and our national security.”
He also emphasized, “This has insulted Japan, an important economic and security ally, and has put America’s competitiveness at risk,” adding, “Chinese Communist Party leaders will be dancing in the streets (cheering for this decision).”
[서울=뉴시스]