Ishiba Seeks Explanation for Biden's Decision over U.S. Steel

Ise, Mie Pref., Jan. 6 (Jiji Press)--Japanese Prime Minister Shigeru Ishiba said Monday that he wants the U.S. government to clarify why President Joe Biden decided to block the proposed acquisition of United States Steel Corp. by Japan's Nippon Steel Corp. on the grounds of national security risk.

"We can't discuss the future without a clear explanation about why there's a security concern," Ishiba said at his New Year press conference, held in Ise in Mie Prefecture, central Japan, after visiting Ise Jingu, a major Shinto shrine in the city, earlier in the day.

Referring to Biden's decision, which was announced Friday, Ishiba said: "Unfortunately, it's true that Japanese industry has expressed concerns about future investments between Japan and the United States. We have no choice but to take this seriously."

"I'd like to strongly urge the U.S. government to take measures to dispel the concerns," the prime minister said, adding that this is "very important for our future relationship, even though we are allies."

Also at the press conference, the prime minister pledged to work aggressively on regional revitalization, vowing to promote the relocation of government agencies to local areas.

[Copyright The Jiji Press, Ltd.]