Analysis-Why Japan Is Not Giving up on Fraught U S Steel Deal usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Days after President Joe
Biden joined his election rival Donald Trump in voicing concern
about a Japanese purchase of U.S. Steel, the manufacturer began
touting the benefits of the deal on billboards.
DONALD Trump’s pledge to block Nippon Steel’s planned purchase of US Steel if he retakes the White House compounds political troubles for the US$15bil deal whose failure could reverberate across Japan Inc.
Donald Trump's pledge to block Nippon Steel's planned purchase of U.S. Steel if he retakes the White House compounds political troubles for the $15 billion deal whose failure could reverberate across Japan Inc. For Japan, the biggest foreign investor in the U.S., a collapse of the deal could give companies pause about acquisitions in other strategic sectors and force them to be more risk averse when sizing up deals, say former officials, lawyers, analysts and executives. The planned purchase by the world's fourth-largest steelmaker of the storied American firm underlines the limits of "friendshoring", a term coined by U.S. officials to describe deeper economic cooperation between allies, an effort partly aimed at de-risking supply chains from rival power China.