U.S. Steel Corporation acquisition blocked by Biden administration

The United States Steel Corporation and Nippon Steel filed lawsuits against the Biden administration, United Steelworkers, and Cleveland-Cliffs after the acquisition was blocked. The acquisition was deemed a threat to national security by both President Joe Biden and President-elect Donald Trump.

Concerns Over Chinese Communist Party Ties in Nippon Steel Corporation's Acquisition of U.S. Steel Corporation

Several Senators from the Rust Belt are concerned about the ties between the Chinese Communist Party and Nippon Steel Corporation, a Japanese company looking to purchase U.S. Steel Corporation. The sale could have national security risks due to Nippon's connections to China's industrial and military strategies.