Biden's Decision on U.S. Steel "Extremely Regrettable": Iwaya

Tokyo, Jan. 7 (Jiji Press)--Outgoing U.S. President Joe Biden's order to block Nippon Steel Corp.'s acquisition of United States Steel Corp. is "extremely regrettable," Japanese Foreign Minister Takeshi Iwaya said at a meeting with visiting U.S. Secretary of State Antony Blinken on Tuesday.

During the meeting at a Tokyo hotel, Iwaya urged the U.S. side to take necessary measures to dispel Japanese companies' concerns about investment in the United States.

In the order dated Friday, Biden cited the need to protect his country's national security as the reason for blocking the acquisition. But his order provoked a backlash from Japan's business community, and Japanese Prime Minister Shigeru Ishiba told a press conference Monday that he would seek an explanation from the U.S. government about the decision.

In Tuesday's meeting, Iwaya and Blinken reaffirmed the importance of strengthening economic relations between their countries, including Japanese investment in the United States.

The meeting was apparently intended to highlight efforts to deepen the Japan-U.S. alliance during Biden's tenure, before Donald Trump is sworn in as the next president on Jan. 20.

[Copyright The Jiji Press, Ltd.]