In blocking the sale to Nippon Steel, Biden said U.S. Steel "will remain a proud American company – one that’s American-owned and American-operated."

U.S. Steel and Nippon Steel said on Monday that it is suing over President Joe Biden's decision to block its sales agreement and a domestic competitor and union over their actions to scuttle the deal.

The companies argued in a lawsuit announced on Monday that Biden violated the Constitution by blocking the merger via a sham national security review that deprived the companies of their right to a fair process.

Trump opposes U.S. Steel's sale to Nippon, but CEO David Burritt believes he can convince the president-elect that the deal is in the interest of U.S. workers.

President Joe Biden on Friday announced his decision to block the $14 billion sale of U.S. Steel to Japan’s Nippon Steel, citing national security concerns. The move could have serious implications in Gary,

President Joe Biden officially announced on Friday he has blocked Nippon Steel's $14.1 billion purchase of U.S. Steel, setting up a likely federal court battle.

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

In dual lawsuits filed Jan. 6, U.S. Steel Corp. and Nippon Steel Corp. blame the Biden administration's politicizing its national-security review as well as the behind-the-scenes actions by rival Cleveland-Cliffs Inc. and United Steelworkers International President David McCall for scuttling the $14.9 billion deal.

A 123-year-old steelmaker’s fate could yet become a restraint on modern-day executive power. United States Steel and suitor Nippon Steel have gone to court over U.S. President Joe Biden’s decision to nix their $15 billion deal.

Both Biden and President-elect Donald Trump have courted unionized workers at U.S. Steel and vowed to block the acquisition amid concerns about foreign ownership of a flagship American company.

U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel's blocked acquisition of U.S. Steel received a "thorough analysis" by an interagency national security review body that was sent to President Joe Biden.