us media: japanese circles warn the us not to "undermine the trust of allies"
2024-09-14
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reference news reported on september 13according to a report on the us consumer news and business channel website on september 11, a japanese steel company's acquisition of a us steel company was opposed by the us government on the grounds of concerns about national security. the japanese business community believes that this is the influence of election year politics.
the report believes that this move may affect the united states' efforts to strengthen relations with japan. japan is an important ally of the united states and can help counter china's growing influence in the asia-pacific region and around the world. washington has also been urging tokyo to align with the united states on export controls to limit china's ability to produce advanced semiconductors.
jeff kingston, a professor of history and asian studies at temple university’s japan campus, said opposition to the acquisition “leaves japan exposed to the same unpleasant treatment as china as washington politicizes economic issues. but japan is accustomed to the twists and turns of the u.s. presidential campaign and understands that democrats want to curry favor with voters in the rust belt.”
the report mentioned that former japanese defense minister shigeru ishiba, a frontrunner in the ldp presidential election, said in an interview last week that the u.s. statement on nippon steel was "very disturbing" and "could undermine the trust of allies."
another candidate, digital minister taro kono, said he “never thought” the acquisition would raise u.s. national security concerns and that he would raise the issue with the white house if he became prime minister.
rahm emanuel, the u.s. ambassador to japan, once said that the u.s.-japan relationship is "deep, rich, and strong, and cannot be affected by any commercial transaction."
the report pointed out that if the acquisition of u.s. steel fails, it will deal a heavy blow to the expansion plans of nippon steel corporation, japan's largest steelmaker, which recently withdrew from a joint venture that had been operating in china for nearly 50 years and is currently focusing on investments in the united states and india.
japan's largest business group, keidanren, said companies, especially those considering investing in the united states, are closely watching the u.s. review process.
"i strongly hope that this matter will not be affected by the us presidential election and that the issue can be handled based on fair and just due process," said masakazu tokura, head of the organization.
last week, japan's chief cabinet secretary yoshimasa hayashi said expanding mutual investment between the united states and japan and cooperation on economic security issues are "indispensable for both sides."
the report quoted ron le, an associate professor at the leavey school of business at santa clara university, as saying that biden's opposition to the deal reflects a major shift in american politics regarding international trade, foreign direct investment and the extent of u.s. government involvement in industry.
ron le said biden is "still defining what national security is" and "through this particular case, he has made it clearer than ever that foreign acquisitions of companies identified as critical industries cannot be allowed, even if they are from american allies." (compiled by guo jun)
