To get approval, a Japanese steel company has submitted a new proposal to the U.S. government.

On January 1, Jin10 News learned that, according to reports from multiple U.S. media outlets on December 31, 2024, Japan Iron and Steel proposed to the U.S. government that it would have veto power over any reduction in U.S. steel production capacity, meaning that if Japan Iron and Steel wants to reduce the production capacity of U.S. steel companies in the future, such as closing factories or cutting production lines, it must be approved by the U.S. government. This proposal is Japan Iron and Steel’s final effort to win U.S. President Biden’s approval for its acquisition of U.S. steel companies.