{"id":110443,"date":"2025-01-13T19:42:17","date_gmt":"2025-01-13T15:42:17","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=110443"},"modified":"2025-01-13T19:44:51","modified_gmt":"2025-01-13T15:44:51","slug":"japan-urges-us-to-reconsider-block-on-nippon-steels-acquisition-of-us-steel","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/japan-urges-us-to-reconsider-block-on-nippon-steels-acquisition-of-us-steel\/01\/13\/market-updates\/","title":{"rendered":"Japan Urges US to Reconsider Block on Nippon Steel&#8217;s Acquisition of US Steel"},"content":{"rendered":"In a recent online meeting, Japan&#8217;s Prime Minister Shigeru Ishiba urged US President Joe Biden to address concerns within the Japanese and US business communities regarding his decision to block Nippon Steel&#8217;s planned acquisition of U.S. Steel.<br \/><br \/>The request was made during a three-way discussion with Biden and Philippine President Ferdinand Marcos Jr. on Monday. The meeting focused on economic security and maritime cooperation in the South China Sea, as reported by a spokesman from Japan&#8217;s Ministry of Foreign Affairs.<br \/><br \/>&#8220;Prime Minister Ishiba emphasized that cooperation among allies and like-minded nations is crucial for establishing resilient supply chains. He stressed the importance of ensuring that companies can invest with confidence to promote economic security,&#8221; the spokesman added.<br \/><br \/>The spokesman also confirmed that Ishiba specifically mentioned the Nippon Steel-U.S. Steel deal during the discussion.<br \/><br \/>The Biden administration has postponed its order for Nippon Steel to abandon its $14.9 billion bid for U.S. Steel until June. This delay follows President Biden&#8217;s initial decision to block the acquisition on national security grounds on January 3. The companies originally had 30 days to unwind their transaction.<br \/><br \/>The postponement will allow the courts to review lawsuits filed by Nippon Steel and U.S. Steel challenging Biden&#8217;s order. Both companies have expressed their intention to proceed with efforts to finalize the deal.<br \/><br \/>Nippon Steel and U.S. Steel have filed federal lawsuits against the federal action blocking the deal, as well as against the United Steelworkers union and rival domestic steelmaker Cleveland-Cliffs, both of which opposed the acquisition.","protected":false},"excerpt":{"rendered":"<p>In a recent online meeting, Japan&#8217;s Prime Minister Shigeru Ishiba urged US President Joe Biden to address concerns within the Japanese and US business communities regarding his decision to block Nippon Steel&#8217;s planned acquisition of U.S. Steel.The request was made during a three-way discussion with Biden and Philippine President Ferdinand Marcos Jr. on Monday. The &hellip;<\/p>\n","protected":false},"author":13,"featured_media":98433,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,39,36],"tags":[],"class_list":["post-110443","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-global-stock-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=110443"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110443\/revisions"}],"predecessor-version":[{"id":110469,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/110443\/revisions\/110469"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98433"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=110443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=110443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=110443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}