Trump Aide Urges Nippon Steel to Explain Buyout Perks

Washington/Tokyo, Nov. 7 (Jiji Press)--U.S. Sen. William Hagerty, known as an aide to U.S. President-elect Donald Trump, on Thursday called on Japan’s Nippon Steel Corp. to elaborate on the anticipated benefits of its planned acquisition of United States Steel Corp.

“If Nippon Steel hopes to prevail in this effort to make this acquisition successful in the United States, they’re going to have to make their case in terms of the investments” that they would have positive job implications in the country and that the deal “does support rather than detract from our national security,” Hagerty said in an interview with U.S. news network CNN.

Hagerty, who served as U.S. ambassador to Japan during the first Trump administration, is expected to be appointed to a key post upon Trump’s return to the White House.

The buyout plan is still under a security review by the Committee on Foreign Investment in the United States, or CFIUS.

Hagerty said the screening focuses on the possible impacts of the transaction on U.S. national security, American interests and jobs in the country, adding that it “has nothing to do with the nationality of the company.”

[Copyright The Jiji Press, Ltd.]