Description: Japanese Nippon Steel interest for US Steel has only intensified since the US Committee on Foreign Investment in the United States failed to reach a consensus. Previously, President Biden had deemed the transaction “a threat to national security” since US Steel was integral part of the US economy and blocked the sale. President – elect Donald Trump had also stated that he is absolutely against the sale and the company should stay under US ownership.
Impact: The US and Japan have had a strong strategic alliance although a transaction of this caliber had started to interfere in both countries’ national interests. Joe Biden and Donald Trump could rarely be seen agreeing upon policies and strategy, but both have supported the block of US Steel’s sale to Nippon Steel. The transaction is not expected to inflict wider implications on US – Japan relations, nevertheless, strategically economic investments are on the top of the priority list with both countries involved in global trade market competition.