Nippon Steel and U.S. Steel File Lawsuits Against President Biden Over Blocked Merger

U.S. Steel and Japanese-owned Nippon Steel are suing President Joe Biden after his administration blocked a proposed deal between the two companies, citing national interests and the need to prioritize American-led steelmaking. The lawsuits, filed this week, allege that Biden violated their constitutional right to due process by halting the merger without proper justification.

The legal battle comes in the wake of Biden’s decision last week to block Nippon Steel’s acquisition of U.S. Steel, a move he described as necessary to protect American industrial sovereignty. “We need American companies representing the majority of our. . .