US President Joe Biden on Jan 3 followed through on his pledge to block Nippon Steel’s US$14.9 billion (S$20.4 billion) bid for US Steel, citing concerns the deal could hurt national security. A research director at the Tokyo Foundation for Policy Research think-tank, Dr Kato noted that government and business leaders have privately lamented the awful timing.

“The official reason given is national security, but everyone knows (Biden’s) true intention is politics and the need to appeal to union workers in the Rust Belt. This is why many companies think this is a one-of-a-kind case.”

"US Steel buyout: Biden’s veto of Nippon Steel’s bid tests US-Japan alliance," The Straits Times
US Steel buyout: Biden’s veto of Nippon Steel’s bid tests US-Japan alliance | The Straits Times

Profile of Research Director Sota Kato
https://www.tkfd.or.jp/en/experts/detail.php?id=29