Japanese Foreign Minister Meets US Secretary of State: "Regret Over Japan Steel-US Steel Acquisition Ban"

Japanese Foreign Minister Takeshi Iwaya met with U.S. Secretary of State Antony Blinken on the 7th and expressed regret over U.S. President Joe Biden's blocking of Nippon Steel's acquisition of US Steel.

On the 7th in Tokyo, U.S. Secretary of State Blinken (left) and Japanese Foreign Minister Iwaya shake hands before the talks. Photo by Yonhap News

After the meeting with Secretary Blinken in Tokyo, Foreign Minister Iwaya stated at a regular press conference, "It is very regrettable that the decision to halt the acquisition was made citing national security concerns."

He introduced that "there are strong voices of concern and worry from the economic sectors of both Japan and the U.S., and this cannot be taken lightly," and said he demanded that concerns surrounding economic cooperation between the two countries be dispelled. It is unknown how Secretary Blinken responded to this demand.

Following the meeting with Foreign Minister Iwaya, Secretary Blinken paid a courtesy call on Prime Minister Shigeru Ishiba at the Prime Minister's Official Residence in Tokyo. According to the Japanese Ministry of Foreign Affairs, Prime Minister Ishiba also emphasized to Secretary Blinken the importance of Japan-U.S. economic relations, including Japanese companies' investments in the U.S., keeping the US Steel issue in mind.

Earlier, on the 3rd (local time), President Biden blocked Nippon Steel's plan to acquire US Steel, citing concerns over weakening national security.

In response, Nippon Steel, together with US Steel, filed a lawsuit in the U.S. Federal Court of Appeals the previous day, demanding the invalidation of President Biden's order and the U.S. government's review.

During the meeting between the Japanese and U.S. foreign ministers, they strongly condemned North Korea's ballistic missile launches, exchanged views on issues related to China, as well as the situations in Ukraine and the Middle East, and reaffirmed the importance of Japan-U.S. cooperation.

Secretary Blinken visited Japan on the 20th as a 'farewell visit' before the inauguration of the Donald Trump administration. He plans to tour South Korea and Japan until the 9th, followed by France.