The head of Japan’s biggest business lobby on Tuesday urged the U.S. administration under the newly inaugurated President Donald Trump to foster a business environment that promotes bilateral investment.
“I hope the U.S. government will adopt policies that foster predictability and encourage businesses to invest with confidence,” Masakazu Tokura, chairman of the Japan Business Federation, also known as Keidanren, said in a statement.
The remarks came after Trump’s predecessor Joe Biden cast a shadow over future investments in the United States by Japanese companies following his decision to block Nippon Steel Corp.’s $14.1 billion acquisition of United States Steel Corp.
Masakazu Tokura, chairman of the Japan Business Federation, known as Keidanren, holds a press conference in Tokyo on Dec. 23, 2024. (Kyodo) ==Kyodo
The rare block of a takeover bid from a firm from a U.S. ally drew criticism from many Japanese business leaders, with some concerned that the case may have set a precedent for the U.S. government to halt future investments by Japanese firms for politically motivated reasons.
Tokura stressed the historically strong commercial ties between the two countries, citing how Japan’s direct investment in the United States has ranked first in the world for five years in a row.
“Keidanren is dedicated to contributing to U.S. economic growth through promoting continuous Japanese investment and job creation and further solidifying the economic bond between our countries,” he said.
Related coverage:
Trump returns as U.S. president with vow to usher in “golden age”
Nippon Steel’s trial against Biden set to start in early February
Japan top business lobby taps insurer head as leader in rare move
This post was originally published on here
