Biden "No Acquisition of Japanese Steel US Steel"...Trump-era 'America First' is further strengthened

[Anchor]
U.S. President Joe Biden has officially denied Japan Steel's acquisition of U.S. Steel, saying it poses a national security threat.

U.S. President-elect Trump has also clearly expressed his opposition to foreign companies' acquisition of U.S. companies, and the "America First" policy is expected to be strengthened.

This is Washington correspondent Hong Sang-hee.

[Reporter]
U.S. President Biden, who is set to retire on the 20th, has officially announced that he will not accept Japan Steel's acquisition of US Steel.

The reason is that handing over major U.S. steel producers to foreign countries would pose risks to national security and supply chains.

[Karyn Jean-Pierre/White House Press Secretary: (Biden) has taken steps to block US Steel from trading so it can remain a proud American company. The president will highly appreciate the people who think of America first.]

In a statement, Biden said it was the president's solemn responsibility to let the U.S. have the steel industry, stressing that U.S. Steel will remain the world's top U.S. company.

[John Kirby/White House National Security and Communications Adviser] This decision is not about Japan. This is to maintain US Steel, which is owned by Americans and is one of the largest steel producers in the United States.]

Earlier, Japan Steel, the world's fourth-largest steelmaker, announced that it would buy US Steel for $14.9 billion in 2023 and about 20.8 trillion won in our money.

Japan Steel has offered to maintain employment and production capacity in the U.S. for a decade, but opposition to the takeover has continued.

Concerns that a sale of US Steel would threaten national security by reducing steel production in the U.S. and opposition from the U.S. steel union were high.

Japan Steel and US Steel immediately refuted the decision to disallow the acquisition, saying they failed to provide any evidence of any impact on national security, but the acquisition is unlikely to be discussed again.

The Wall Street Journal and other U.S. media reported that the U.S. government is leaning toward a protectionist policy in response to President Biden's decision not to sell it.

Trump, who has opposed the takeover, also stressed that he would make U.S. steel strong and great again with tariffs and incentives, and his "America First" policy is expected to strengthen further after taking office.

I'm Hong Sang-hee from Washington.