Not just business: US-Japan steel deal helps America to compete against China

FILE — Steam rises from U.S. Steel's Edgar Thomson Steel Works in Braddock, Pa., March 10, 2023. To save its takeover of U.S. Steel, Japan’s Nippon Steel agreed to an unusual arrangement, granting the White House a “golden share” that gives the government an extraordinary amount of influence over a U.S. company. (Justin Merriman/The New York Times)

On June 18, Japan’s Nippon Steel finally signed, sealed and delivered on its acquisition of US Steel after an 18-month takeover battle.

PHOTO: JUSTIN MERRIMAN/NYTIMES

Walter Sim

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TOKYO - A trade deal that relieves Japan from hefty auto and “reciprocal” tariffs imposed by its security ally, the United States, remains far off.

Japanese Prime Minister Shigeru Ishiba

admitted as much

on June 16 when he cited persisting disagreements despite two face-to-face meetings, four telephone summits and six rounds of Cabinet-level negotiations.

Not just business: US-Japan steel deal helps America to compete against China

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