TOKYO, Jan 13, 2025 (BSS/AFP) - Japanese Prime Minister Shigeru Ishiba told 
US President Joe Biden that "strong" concerns have been raised over his 
decision to block Nippon Steel's takeover of US Steel, local media reported 
Monday.

Citing national security concerns, Biden put a stop to the $14.9 billion sale 
and irked one of Washington's closest allies.

"I said that strong voices of concerns are being raised not just in Japan but 
also in the US business community, and I urged (Biden) to dispel these 
feelings," Ishiba told reporters after a call with Biden and Philippines 
President Ferdinand Marcos on Monday.

Both firms have launched legal action, accusing the outgoing US president of 
"illegal interference".

Nippon Steel had touted the acquisition as a lifeline for US Steel, but 
opponents warned the Japanese giant would slash jobs -- despite its 
assurances to the contrary.

The takeover, which was announced in 2023, came in the run-up to last year's 
US presidential election and proved a political flashpoint.

US Steel is based in the swing state of Pennsylvania and both Donald Trump 
and Kamala Harris opposed the transaction.

Japanese firms invested almost $800 billion in the United States in 2023, 
more than any other country and 14.3 percent of the total, according to 
official US data.

US firms are also the biggest outside investors into Japan.

Japan is also a close strategic ally for Washington as it seeks to counter 
China asserting its presence in contested areas of the South China Sea.

The United States has about 54,000 military personnel stationed in Japan, 
mostly on the southern island of Okinawa.

Both steel companies said Sunday that US authorities have extended the 
deadline for unwinding the acquisition deal until June 18.

Japan's Foreign Minister Takeshi Iwaya, who will attend Trump's inauguration 
as US president on January 20, said it was important to see the "big picture" 
of bilateral ties.

"It is important to appropriately deal with the issue while not undermining 
the big picture of the Japan-US alliance," he said Sunday during a television 
debate.

"I will ask the US side to remove concerns which are spreading in the 
business community."

Japanese business group Keizai Doyukai said that with protectionism likely to 
strengthen under Trump Japan should diversify.

Japan "should strengthen cooperation with like-minded countries such as South 
Korea, Australia, the Philippines and India, so as not to become completely 
dependent on the United States," it said.