Photo/Illutration Prime Minister Shigeru Ishiba speaks to reporters after a video conference with U.S. President Joe Biden and Philippine President Ferdinand Marcos Jr. on Jan. 13. (Sayuri Ide)

Prime Minister Shigeru Ishiba called on U.S. President Joe Biden to dispel growing concerns in Japanese and U.S. business circles over his blocking of Nippon Steel Corp.’s planned acquisition of U.S. Steel Corp.

The controversial decision was raised during a trilateral video conference on Jan. 13, which also included Philippine President Ferdinand Marcos Jr.

According to statements from the prime minister and the Foreign Ministry, Ishiba said cooperation among allied and like-minded nations is essential for establishing a resilient supply chain.

He said that it is important to ensure that companies can invest with confidence to promote economic security.

From this perspective, Ishiba brought up Nippon Steel’s attempted acquisition of U.S. Steel.

He told Biden, “Strong concerns are being raised not only in Japan but also within the U.S. business community. I strongly urge that these concerns be dispelled,” according to the statements.

Ishiba did not disclose Biden's response to his remarks at a news conference.

“Not only on this issue but also on other issues, there wasn’t much back-and-forth,” the prime minister told reporters.

“Each leader shared their thoughts and provided an overview and assessment of the various efforts undertaken so far by Japan, the United States and the Philippines,” he said.

During the 25-minute discussion, the three leaders agreed that their countries will continue working together in areas such as maritime security, economic security and enhancing infrastructure resilience.

“Southeast Asia holds a key position in the Indo-Pacific region,” Ishiba told reporters. “We will continue to make further efforts to achieve a free and open Indo-Pacific based on the rule of law.”

According to Ishiba, Biden, who is set to leave office on Jan. 20, expressed his hope that “the next administration will continue the efforts” in Japan-U.S. security cooperation.

The White House reported that the three leaders also discussed China’s “dangerous and unlawful behavior” in the South China Sea. They agreed on the importance of continued coordination to advance a free and open Indo-Pacific.

Ishiba also told reporters that final arrangements are being made for an early meeting with incoming U.S. President Donald Trump.

“We will hold it at the most appropriate time and in the most appropriate manner after the (Trump) administration takes office,” Ishiba said.

He mentioned that Foreign Minister Takeshi Iwaya, who will attend Trump’s inauguration on Jan. 20 in Washington, D.C., may discuss the meeting schedule during his visit.

On Japan-U.S.-Philippines security cooperation, the Biden administration has focused on establishing a trilateral framework with an eye on countering China’s attempts to expand its influence in the Indo-Pacific region.

Last April, Biden hosted the first-ever trilateral summit in the United States with then-Prime Minister Fumio Kishida and Marcos.

(This article was written by Yuki Minami in Tokyo and Ryo Kiyomiya in Washington.)