Arata Yamamoto has been a NBC News producer in Tokyo since 1993.
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.
“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.
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