Share this @internewscast.com

TOKYO — Japan’s largest steelmaker defended its proposed acquisition of U.S. Steel on Friday as a way to strengthen “American supply chains and economic defenses against China,” a day after President Joe Biden came out against the deal.

Nippon Steel said it was determined to complete the $14 billion takeover agreed to in December, which has raised concerns about the implications for union workers, supply chains and U.S. national security.

“Through increased financial investment and the contribution of our advanced technologies to U.S. Steel, Nippon Steel will advance American priorities by driving greater quality and competitiveness for customers in the critical industries that rely on American steel while strengthening American supply chains and economic defenses against China,” the Tokyo-based company said in a statement.

“No other U.S. steel company on its own can meet this challenge while also meeting antitrust requirements,” it added.

The company said that under its proposal, there would be no layoffs or plant closures as a result of the transaction.

On Thursday, Biden said Pittsburgh-based U.S. Steel should remain American-owned.

“It is important that we maintain strong American steel companies powered by American steel workers,” he said in a statement released by the White House. “I told our steel workers I have their backs, and I meant it.”

“U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated,” he added.

The United Steelworkers union welcomed Biden’s remarks.

“Allowing one of our nation’s largest steel manufacturers to be purchased by a foreign-owned corporation leaves us vulnerable when it comes to meeting both our defense and critical infrastructure needs,” David McCall, the president of United Steelworkers International, said in a statement.

Asked about Biden’s remarks on Friday, Japanese Chief Cabinet Secretary Yoshimasa Hayashi declined to comment on matters concerning the management of individual companies.

He added that the U.S.-Japan alliance “has never been stronger” and that the two countries will continue to work closely together “to achieve sustainable and inclusive economic growth in the Indo-Pacific region and to maintain and strengthen a free and open economic order.”

Arata Yamamoto reported from Tokyo, and Jennifer Jett reported from Hong Kong.

Share this @internewscast.com
You May Also Like
Our Chicago: Chicago Community Trust and Nourishing Hope looking for help for Giving Tuesday

Chicago Community Trust and Nourishing Hope Seek Support for Giving Tuesday Initiatives

CHICAGO (WLS) — Giving Tuesday is a global initiative dedicated to promoting…
Conservative Gettysburg College group catches student on video tearing down promotional flyers

Student Caught on Camera: Controversial Flyer Removal Sparks Debate at Gettysburg College

A conservative campus group at a private college in Pennsylvania claims a…
Analyzing Japanese free agents heading to MLB after Yankees declared interest

Yankees Eye Japanese Free Agents: MLB’s Next Big International Talent Surge

The New York Yankees are signaling a strong intention to re-engage with…
LA ICE Raids Get Wild; Protester Makes Bad Decision to Block Van; Mayor Bass' Statement Is Incredible

Chaos Erupts in NYC: Anti-ICE Protesters Block Federal Agents in Garage Standoff

Recent actions by left-wing activists against ICE (Immigration and Customs Enforcement) have…
Rioters throw trash, garbage cans at ICE vehicles in New York City; multiple arrests

New York City Chaos: Rioters Target ICE Vehicles with Trash Barrage, Prompting Multiple Arrests

Authorities have confirmed that multiple arrests took place on Saturday following an…
State Department warns UK over grooming gang handling: 'Unspeakable abuse'

U.S. State Department Criticizes UK’s Response to Grooming Gangs Amidst ‘Unspeakable Abuse’ Concerns

The Trump administration has issued a stern critique of the United Kingdom…
Train pushes car quarter-mile on tracks as 82-year-old driver suffers minor injuries

Elderly Driver Survives After Train Drags Car for Quarter-Mile on Tracks

In a remarkable incident this week in New Jersey, an elderly woman…
'It didn’t feel real': Georgia teen dances his way to New York City for Macy's Thanksgiving Day Parade

Georgia Teen’s Dance Journey Takes Him to the Macy’s Thanksgiving Day Parade in New York City

As vibrant floats and rhythmic marching bands made their way down 34th…
Reporter's Notebook: Thanksgiving weekend in Turkey with an American pope, next stop Lebanon

American Pope Visits Turkey for Thanksgiving, Plans Lebanon Trip Next

On Sunday morning, it was confirmed that the Vatican’s chartered Airbus 320,…
Massachusetts man accused of beating parents and setting home on fire, leaving them to die

Massachusetts Man Charged with Assaulting Parents and Allegedly Setting Their Home Ablaze

In a deeply unsettling incident, a Massachusetts man has been arrested for…
Winning Powerball numbers for August 23, 2025

Unlock Your Fortune: Check the Winning Numbers for Powerball’s November 29th Draw!

WASHINGTON — With no winners emerging in Wednesday’s drawing, the Powerball jackpot…
Apple TV pulls show ahead of premiere over plagiarism accusations

Apple TV Halts Show Launch Amidst Controversy: Plagiarism Allegations Unveiled

The release of the French thriller “The Hunt” on Apple TV has…