U.S. President Biden bans the acquisition of U.S. Steel (X.US) by Japan. Japan's Komisawa reported that the Japanese economic industry responded by saying that it was incomprehensible and regretted that U.S. concerns about national security protection were the reason for making such a judgment.

With Japan showing a broadening base for US investment, the Japanese government considers the acquisition to be beneficial for both countries, and pointed to strong concerns from the Japanese industry and stressed that the Japanese government had to take the incident seriously and wanted the US government to take action to eliminate the concerns of the day.

Japan Iron has also indicated that it will prosecute the US government to challenge Biden's denial of the takeover, according to Japan Economic News.

Japanese iron fell 1.8% in the morning Japanese market and US steel fell 6.5% on Friday (3 days) in US stocks.