Ishiba warns blocked U.S. Steel deal could impact investments

Japan’s prime minister on Monday urged Washington to dispel concerns that a decision by U.S. President Joe Biden to block Nippon Steel’s takeover of U.S. Steel could impact future investments.

The U.S. president’s announcement last week cited a strategic need to protect domestic industry, a move that drew sharp criticism from both companies and Tokyo.

A U.S. government panel had failed to reach consensus on whether the $14.9 billion acquisition threatened national security, shifting the decision to Biden in the waning days of his presidency.