Legal Battle Ensues Over Blocked Merger

Nippon Steel Corporation and United States Steel Corporation have launched legal challenges against what they claim is "illegal interference" by the outgoing President Joe Biden, who blocked their $14.9 billion merger agreement. The companies argue that the merger would enhance, not threaten, United States national security and strengthen the domestic steel industry against Chinese competition.

Allegations of Political Maneuvering

The lawsuits allege that President Biden bypassed legal processes to favor the United Steelworkers (USW) and advance his political agenda. Nippon Steel and U.S. Steel are seeking an expedited hearing to address what they describe as a "coordinated series of anti-competitive and racketeering activities" by Cleveland-Cliffs Inc. CEO Lourenco Goncalves and USW President David McCall.