The rejection of Nippon Steel's bid by President Biden illustrates the growing tension in U.S.-Japan economic relations, as warned by top Japanese officials who believe it damages investment prospects and may paint America as less investable on a global scale.
Prime Minister Shigeru Ishiba emphasized the importance of the acquisition, describing it as a critical juncture for U.S.-Japan economic ties, while expressing concern that a failed merger could jeopardize current and future investments in the U.S.
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