Senior administration officials had reservations about calling Nippon Steel’s takeover proposal a “national security risk.”

The steel companies allege White House decision to black takeover was political and violated their right to due process.

By blocking a Japanese company’s takeover of U.S. Steel, President Joe Biden said he was protecting good jobs in the American heartland. He may be putting them at risk instead.

President Joe Biden has rejected the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel.

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

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.

Joe Biden’s decision to block Nippon Steel’s acquisiton of U.S. Steel may have gone against the advice of top aides.

Critics of the proposed purchase were worried about potential job losses for American workers and the foreign ownership of a longtime American company.

President Joe Biden has officially blocked the $14.9 billion takeover of U.S. Steel by Japan's Nippon Steel. Biden said the proposed deal would place one of the largest steel producers in the U.S. under foreign control, creating a risk for the nation's critical supply chains.

The acquisition was controversial as some argued foreign ownership over one of America’s largest steel producers posed a threat to national security. U.S. Steel (NYSE: X) stock was down more than 5% in midday trading Friday,