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The
spokesperson did not provide details about the letter's content,
but said it was signed by Nippon Steel Chief Executive Eiji
Hashimoto and U.S. Steel CEO David Burritt as well as other
executives.
U.S. Steel did not immediately respond to a request for comment
outside of U.S. business hours. The U.S. embassy in Japan did
not immediately have comment.
Japan's biggest steelmaker is pursuing a cash deal to buy the
123-year-old U.S. Steel, despite resistance from Biden, the
United Steel Workers (USW) union and many members of Congress
while a U.S. national security review is conducted.
The deal has also been opposed by both Republican presidential
nominee Donald Trump and Democratic nominee Kamala Harris. Both
are vying to win the critical swing state of Pennsylvania, where
U.S. Steel is headquartered.
The Committee on Foreign Investment in the United States (CFIUS)
told the companies in an Aug. 31 letter seen by Reuters the deal
would create national security risks because it could hurt the
supply of steel needed for critical transportation,
infrastructure, construction and agriculture projects.
A top Nippon Steel executive and U.S. Steel's CEO met with
senior U.S. officials on Wednesday in an effort to salvage the
deal, a person familiar with the matter said.
The outcome of the meeting was not immediately clear.
The Japan Business Federation and a number of U.S. business
groups, in a letter to Treasury Secretary Janet Yellen on
Wednesday, raised concerns that the Biden administration's
national security review of the deal is being unduly influenced
by political pressure.
On Friday, Japan's Minister of Economy, Trade and Industry Ken
Saito declined to comment on the deal, saying that doing so
would interfere in U.S. domestic affairs.
But Saito added: "It is extremely important that Japanese and
U.S. companies continue to make transactions and the growth in
deals constitutes a key element of the strong economic
relationship between the two nations."
(Reporting by Yuka Obayashi and John Geddie, Additional
reporting by Kantaro Komiya; Editing by Edwina Gibbs)
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