Japanese companies needing to grow have sought out American deals. Experts say that will not change even after Biden’s rejection of Nippon Steel’s takeover attempt.

President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his vow in March to block the acquisition.

The suit, filed in the U.S. Court of Appeals for the District of Columbia, alleges that it was a political decision and violated the companies’ due process.

WASHINGTON/TOKYO (Reuters) -U.S. President Joe Biden blocked Nippon Steel's proposed $14.9 billion purchase of U.S. Steel on Friday, citing national security concerns, dealing a potentially fatal blow to the contentious plan after a year of review.

And while Nippon promised to keep the headquarters in Downtown Pittsburgh and not shut down ... including government officials from Japan and allies and partners in the U.S., to take all ...

President Joe Biden has blocked the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his earlier vow on the

President Joe Biden said Friday he is blocking a $14.3 billion acquisition of US Steel by Japan’s Nippon Steel, marking a significant use of executive authority in the closing days of his administration.

President Joe Biden on Friday announced a decision to block the $14 billion acquisition of U.S. Steel by Japan-based Nippon Steel, saying domestically produced steel is essential to U.S. national security. "Without domestic steel production and domestic steel workers, our nation is less strong and less secure," Biden said in a statement.

The companies condemned the president's decision and hinted at taking legal action, while U.S. Steel's CEO accused Biden of "political corruption."

Global temperatures in 2024 soared to yet another record level, but this time it was such a big jump that Earth temporarily passed a major symbolic climate threshold

President Joe Biden’s decision to block Nippon Steel’s acquisition of U.S. Steel on national security grounds will have disastrous consequences for some Pennsylvania steel workers, who will lose their jobs and won’t be able to pay mortgages and support their families.

Gov. Josh Shapiro faces a new challenge after the White House blocked U.S. Steel’s overseas acquisition. Join the lawsuit the company filed