Japan, US face shared challenge from cheap China steel, Japan PM hopeful says

Prime ministerial candidate Shinjiro Koizumi urges Japan and the U.S. to collaborate on steel industry challenges posed by China instead of confronting each other. Nippon Steel’s $14.9 billion bid for U.S. Steel is being reviewed by a U.S. national security panel, with a recommendation due by Sept. 23, amid opposition from key political figures.