Nippon Steel chief warns Trump that tariffs alone will not strengthen US industry

Nippon Steel chairman and CEO Eiji Hashimoto has warned that tariffs alone would not create a stronger American steel industry as he pursued legal action aimed at persuading Donald Trump’s incoming administration to launch another review of his proposed $15Bn deal to buy US Steel.

In his first public appearance since President Joe Biden blocked the takeover last week, Hashimoto told reporters in Tokyo that the combination would enhance US national security by creating a stronger company. US Secretary of State Antony Blinken insisted during a visit to Tokyo on Tuesday that ties with Japan were stronger than ever, days after President Biden blocked Nippon Steel's takeover of US steel.

Business groups say the decision could have a chilling effect on Japan's standing as the biggest foreign investor in the United States, just as Washington SEEKS closer ties with Tokyo to counter China. with two weeks left before President-elect Donald Trump takes over and Blinken is slated to be replaced by Marco Rubio, the top us diplomat noted that he also came to Japan on his first trip in 2021.

Meanwhile, Nippon Steel and US Steel have filed a Federal lawsuit in the United States challenging the Biden administration’s decision to block Nippon’ proposed $15Bn acquisition of the Pittsburgh company.

Reference Sources

1. ft - Nippon Steel chief warns Trump that tariffs alone will not strengthen US industry
2. thesunmy - Blinken says US-Japan ties rock solid despite rift over steel deal
3. usatoday - Biden glorifies American-made steel while Gary rots in ruins | Opinion
4. nikkei - Nippon Steel has no intention or need to give up on U.S. Steel: CEO
5. aljazeera - US Steel, Nippon sue Biden administration over decision to block merger

China's Honor to enter Indonesian market amid iPhone ban

(Source: Shutterstock)

Chinese Smartphone maker Honor has announced plans to launch smartphone sales in Indonesia by the end of March, becoming the latest Chinese company to enter a market that has banned Apple's iPhone 16 over domestic production requirements.

Indonesia requires that for smartphones sold in the country, 40% of their components must be domestically sourced, which has prevented Apple from selling its newest phone in the market, where it is reportedly negotiating a $1Bn investment.

Honor has an office in Indonesia and is working with one local manufacturing partner, Justin Li, the Chinese company's president of South Pacific operations, told reporters last week.

He said a folding phone will be among Honor's first set of locally sold products - 10 items in the medium to high-end segment.

Reference Sources

1. cnbc - While Apple negotiates Indonesia sales ban, another Chinese smartphone maker is entering the country
2. nikkei - China's Honor to enter Indonesian market amid iPhone ban

Sony (finally) launches pre-orders for its first electric car

(Source: Afeela)

Sony has unveiled the production version of its electric car, the Afeela 1, in collaboration with Honda at CES 2025.

The Afeela 1 will be produced in Ohio in the US and only available in California at first.

The first sales will be made during 2025, with deliveries scheduled for Mid-2026. The vehicle is packed with sensors and cameras – around forty – to ensure “semi-autonomous” driving.

Pre-Orders for the Afeela 1 start today for California, with other US States planned with a payment of $200. The integrated battery ensures up to 480 kilometers of autonomy.

Sony and Honda, however, do not hide their ambitions and want to directly compete with luxury car manufacturers in the sector.

Reference Sources

1. eurodayfr - Here is the Sony electric car that it is finally possible to buy (or almost)
2. eurodayfr - Sony (finally) launches pre-orders for its first electric car

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.

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