Nippon Steel lawsuit against US government to start on Feb 3

Nippon Steel's legal challenge to overturn the US government decision blocking its acquisition of United States Steel Corp is scheduled to commence on Feb 3, according to court documents.

The lawsuit was filed on Jan 6 by both companies after then-President Joe Biden halted the proposed deal, citing concerns over national security. The steelmakers accused Biden of unlawful political interference in the review of the acquisition plan.

Nippon Steel said it is set to submit its opening brief on Feb 3. Both the plaintiffs and the defendants are expected to complete their arguments before the US Court of Appeals for the District of Columbia Circuit by March 17, Kyodo News reported.

The former Biden administration extended the deadline for the two companies to abandon their merger plan to June 18, following a request from Nippon Steel.

On Monday, Masakazu Tokura, chairman of the Japan Business Federation, known as Keidanren, extended congratulations to Donald Trump and JD Vance on their inauguration and the commencement of the Trump-Vance Administration.

Tokura said in a statement that Japan's direct investment in the US amounted to approximately $800 billion, and Japanese companies have created nearly one million jobs across the US.

He said he hopes the US government will adopt policies that foster predictability and encourage businesses to invest with confidence.

In the lead-up to his return to the White House, Trump openly voiced his opposition to the buyout proposal.